Answer:
$250,000
Explanation:
Preparation of the statement of comprehensive income
TRAYER CORPORATION Statement of Comprehensive Income for the year ended 31 December 2017
Income from continuing operations $290,000
Discontinued operations:
Less Loss of operation of Discontinue Division, net of tax ($8,000)
($40,000 × 20% )
Gain on sales of Discontinued Division, net of tax $32,000
($40,000 - $8,000 )
Net income $314,000
($290,000+$8,000+$32,000)
Less Unrealized loss on available-for-sale securities, net of tax $64,000
[$80,000-($80,000 × 20%)]
Comprehensive income $250,000
($314,000-$64,000)
Therefore the comprehensive income will be $250,000
