Vaughn Corporation has income from continuing operations of $ for the year ended December It also has the following items before considering income taxes
An unrealized loss of $ on availableforsale securities
A gain of $ on the discontinuance of a division comprised of a $ loss from operations and a $ gain on disposal
Assume all items are subject to income taxes at a tax rate.
Prepare a partial income statement, beginning with income from continuing operations, and a statement of comprehensive income. Enter loss using either a negative sign preceding the number eg or parentheses eg
VAUGHN CORPORATION
Income Statement Partial
For the Year Ended December
Income from Continuing Operations
$
Discontinued Operations
Loss from Disposal of Discontinued Division
$
Loss from Disposal of Discontinued Division
VAUGHN CORPORATION
Statement of Comprehensive Income
For the Year Ended December
Net Income Loss
$
Unrealized Holding Loss on AvailableforSale Securities
Other Comprehensive Income
Retained Earnings
$
