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Calculate income from continuing operations

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Reference no: EM132651718

Question - Novak Corp.. follows IFRS and has the following amounts for the year ended December 31, 2020: gain on sale of FV-NI investments (before tax), $12,000; loss from operation of discontinued division (net of tax), $33,000; income from operations (before tax), $180,000; unrealized holding gain-OCI (net of tax), $9,000; income tax on income from continuing operations, $50,500; loss from disposal of discontinued division (net of tax), $59,500. The unrealized holding gain-OCI relates to investments that are not quoted in an active market.

Required -

a) Calculate income from continuing operations.

b) Calculate net income.

c) Calculate other comprehensive income.

d) Calculate comprehensive income.

Reference no: EM132651718

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