Question: Exercise 18-02 Your answer is partially correct. Try again. Trayer Corporation has income from continuing operations of $268,000 for the year ended December 31, 2020.


Exercise 18-02 Your answer is partially correct. Try again. Trayer Corporation has income from continuing operations of $268,000 for the year ended December 31, 2020. It also has the following items (before considering income taxes). 1. An unrealized loss of $85,000 on available-for-sale securities. A gain of $33,000 on the discontinuance of a division (comprised of a $17,000 loss from operations and a $50,000 gain on disposal). 2. 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. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) TRAYER CORPORATION Partial Statement of Comprehensive Income For the Year Ended December 31, 2020 Income from Continuing Operations 268,000 Discontinued Operations Loss from Operations, Net of Income Tax Savings 25740 > Gain from Disposal, Net of Income Taxes 25740 I> Net Income / (Loss) Other Comprehensive Income X Unrealized Holding Loss on Available-for-Sale Securities Comprehensive Income / (Loss)
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