Answer:
Explanation:
Statement of Comprehensive Income :
                                                                                     $                   $
Income from continuing operation before tax     500,000
Income Tax                                                           <u> (100,000)</u>
After Tax Income from Continuing operation                            400,000
Loss from discontinuing operation                       (60,000)
Gain on disposal of discontinuing operation       <u> 40,000</u>
loss  on discontinuing operation b/4 tax              (20,000)
income tax  benefit @ 20%                                     <u>4,000</u>
After tax gain on discontinuing operation                                 (<u>16,000) </u>
Net Income                                                                                   384,000
Unrealized loss on available-for -sale securities                      <u> (150,000)</u>
Other Comprehensive Income                                                    <u>234,000</u>