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Crane Manufacturing Company has income from continuing operations of $630,000(after tax) for the year ended...

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Accounting

Crane Manufacturing Company has income from continuing operations of $630,000(after tax) for the year ended December 31,2025.
It also has the following items (before considering income taxes):
(1) An unrealized loss of $122,000 available-for-sale debt securities.
(2) A gain of $61,000 on the discontinuance of a major component of the business.
(3) A cumulative effect of a change in accounting principle that resulted in an increase in prior years' depreciation of $51,000.
Assume all items are subject to income taxes at a 30% tax rate.
Prepare a combined statement of income and comprehensive income beginning with income from continuing operations.
CRANE MANUFACTURING COMPANY
Combined Statement of Income and Comprehensive Income (partial)
December 31,2025
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