Question: Question 4 1. your answer is partially correct. Try again. Novak Corp, has income from continuing operations of $261,000 for the year ended December 31,

Question 4 1. your answer is partially correct. Try again. Novak Corp, has income from continuing operations of $261,000 for the year ended December 31, 2022. It also has the following items (before considering income taxes). An unrealized loss of $72,000 on available-for-sale securities. 2. A gain of $27,000 on the discontinuance of a division (comprised of a $9,000 loss from operations and a $36,000 gain on disposal). 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. NOVAK CORP. Partial Statement of Comprehensive Income For the Year Ended December 31, 2022 Income from Continuing Operations 261000 Discontinued Operations Gain from Disposal 21600 Loss from Operations 282600 Other Comprehensive Income Net Income / (Loss) >> Unrealized Holding Loss of Available-for-Sale Securities 57600 Comprehensive Income $ 225000
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