An inexperienced accountant for Pronghorn Corp showed the following in the income statement: income before income taxes $275,000 and unrealized gain on available-for-sale securities (before taxes) $92,400. The unrealized gain on available-for-sale securities and income before income taxes are both subject to a 34% tax rate. Prepare a correct statement of comprehensive income.
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An inexperienced accountant for Pronghorn Corp showed the following in the income statement: income...
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