In: Accounting
In its proposed 2017 income statement, Whispering Winds Corp.
reports income before income taxes $476,000, income taxes $76,160
(not including unusual items), loss on operation of discontinued
music division $62,300, gain on disposal of discontinued music
division $43,000, and unrealized loss on available-for-sale
securities $141,000. The income tax rate is 16%.
Prepare a correct statement of comprehensive income, beginning with
income before income taxes.