Pronghorn Corp has income from continuing operations of $266,800 for the year ended December 31, 2022....
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Pronghorn Corp has income from continuing operations of $266,800 for the year ended December 31, 2022. It also has the following items (before considering income taxes). 1. An unrealized loss of $73,600 on available-for-sale securities. A gain of $27,600 on the discontinuance of a division (comprised of a $9,200 loss from operations and a $36,800 gain on disposal). 2. Assume all items are subject to income taxes at a 20% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations. PRONGHORN CORP Partial Statement of Comprehensive Income For the Year Ended December 31, 2022 Income from Continuing Operations PRONGHORN CORP Partial Statement of Comprehensive Income For the Year Ended December 31, 2022 Income from Continuing Operations %24 %24 Pronghorn Corp has income from continuing operations of $266,800 for the year ended December 31, 2022. It also has the following items (before considering income taxes). 1. An unrealized loss of $73,600 on available-for-sale securities. A gain of $27,600 on the discontinuance of a division (comprised of a $9,200 loss from operations and a $36,800 gain on disposal). 2. Assume all items are subject to income taxes at a 20% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations. PRONGHORN CORP Partial Statement of Comprehensive Income For the Year Ended December 31, 2022 Income from Continuing Operations PRONGHORN CORP Partial Statement of Comprehensive Income For the Year Ended December 31, 2022 Income from Continuing Operations %24 %24
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Related Book For
Principles of Managerial Finance
ISBN: 978-0133507690
14th edition
Authors: Lawrence J. Gitman, Chad J. Zutter
Posted Date:
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