Business, 20.06.2020 22:57 destineedhuber8301

Trayer Corporation has income from continuing operations of $225,000 for the year ended December 31, 2017. It also has the following items (before considering income taxes). 1. An unrealized loss of $86,200 on available-for-sale securities. 2. A gain of $43,500 on the discontinuance of a division (comprised of a $5,100 loss from operations and a $48,600 gain on disposal). 3. A correction of an error in last year’s financial statements that resulted in a $20,000 understatement of 2016 net income. Assume all items are subject to income taxes at a 16% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations.

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Trayer Corporation has income from continuing operations of $225,000 for the year ended December 31,...