Requirements a. Prepare a single statement of comprehensive income beginning with operating income. b. Prepare separate...

Requirements

a.

Prepare a single statement of comprehensive income beginning with operating income.

b.

Prepare separate statements of income and comprehensive income

1 Operating income amounted $390000
2.	The company sold investments in bonds at a pretax loss of $20,000.
3.	SuperbSuperb reported a $ 5 comma 500$5,500 unrealized loss on an available-for-sale portfolio that is included in other comprehensive income.
4.	The company reported a $ 13 comma 000$13,000 unrealized gain on its trading portfolio, which is included in net income.
5.	SuperbSuperb committed to discontinue its retail lumber stores division on January 1 of the current year. The retail lumber stores meet the criteria to be presented as a discontinued operation. The retail lumber stores accounted 25% of the company's operating income. The stores were operated all year.
6.	The retail lumber stores division was sold at December 31 of the current year for a $20,000 pre-tax loss. There was no gain or loss on remeasurement on January 1.

Please can you show me step to find ( Income tax Expense)

Expert Solution

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ekkarill92 answered 2 years ago

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