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Business, 21.05.2020 18:02 angie249

Trayer Corporation has income from continuing operations of $276,000 for the year ended December 31, 2020. It also has the following items (before considering income taxes).
1. An unrealized loss of $77,000 on available-for-sale securities.
2. A gain of $36,000 on the discontinuance of a division (comprised of a $13,000 loss from operations and a $49,000 gain on disposal).
3. A correction of an error in last year’s financial statements that resulted in a $20,000 understatement of 2019 net income.
Assume all items are subject to income taxes at a 15% tax rate.
Required:
Prepare a statement of comprehensive income, beginning with income from continuing operations.

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Trayer Corporation has income from continuing operations of $276,000 for the year ended December 31,...
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