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Prepare a statement of comprehensive income

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Question - Troyer Corporation has income from continuing operations of $260,030 for the year ended December 31, 2020. It also has the following items (before considering income taxes).

1. An unrealized loss of $76,000 on available-for-sale securities.

2. A gain of $29,000 on the discontinuance of a division (comprised of a $18,000 loss from operations and a $47,003 gain on disposal).

Assume all items are subject to income taxes at a 24% tax rate.

Prepare a statement of comprehensive income, beginning with income from continuing operations.

Reference no: EM132432168

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