Blue Spruce Corp. has income from continuing operations of $437,000 for the year ended December 31, 2017. It also has the following items (before considering income taxes). 1. An unrealized loss of $50,700 on available-for-sale securities.
2. A gain of $24,000 on the discontinuance of a division (comprised of a $9,100 loss from operations and a $33,100 gain on disposal).
3. A correction of an error in last year’s financial statements that resulted in a $20,000 understatement of 2016 net income. Assume all items are subject to income taxes at a 18% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations.
BLUE SPRUCE CORP. Partial Statement of Comprehensive Income $ BLUE SPRUCE CORP. Partial Statement of Comprehensive Income KIRKE TO