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Trayer Corporation has income from continuing operations of $394,000 for the year ended December 31, 2017. It also has the following items (before considering income
Trayer Corporation has income from continuing operations of $394,000 for the year ended December 31, 2017. It also has the following items (before considering income taxes).
1. | An unrealized loss of $57,800 on available-for-sale securities. | |
2. | A gain of $24,400 on the discontinuance of a division (comprised of a $5,900 loss from operations and a $30,300 gain on disposal). | |
3. | A correction of an error in last years financial statements that resulted in a $20,000 understatement of 2016 net income. |
Assume all items are subject to income taxes at a 22% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations.
RIVERBED CORP Partial Statement of Comprehensive Income $ $ $Step by Step Solution
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