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Prepare a statement of comprehensive income

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Question - Trayer Corporation has income from continuing operations of $294,000 for the year ended December 31, 2020. It also has the following items (before considering income taxes).

1) An unrealized loss of $89,000 on available-for-sale securities.

2) A gain of $24,000 on the discontinuance of a division (comprised of a $17,000 loss from operations and a $41,000 gain on disposal).

Assume all items are subject to income taxes at a 21% tax rate

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

Reference no: EM132630533

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