Your answer is partially correct. Try again. Trayer Corporation has income from

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Your answer is partially correct. Try again. Trayer Corporation has income from continuing operations of $403,000 for the year ended December 31, 2017. It also has the following items (before considering income taxes) 1 An unrealized loss of $83,000 on available-for-sale securities. 2. A gain of $31,800 on the discontinuance of a division (comprised of a $8,800 loss from operations and a $40,600 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 17% tax rate Prepare a statement of c e income, beginning with income from continuing operations. CHEYENNE CORP. Partial Statement of Income For the Year Ended December 31, 2017 Income from Continuing Operations 403,000 Discontinued Operations Gain from Disposal 34,104 Loss from Operations (7,392) 26,712 Net Income (Loss) 434,800 Other Com Unrealized Holding Loss of Available-for-Sale Securities (83,000) Comprehensive Income 351,800 Click if you would like to Show Work for this question LINK TO TEXT

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CHEYENNE CORP. Partial Statement of Comprehensive Income For the Year Ended December 31, 2017 Income from Continuing Operations $403,000 Discontinued Operations        Gain from Disposal [$40,600 - (17% x $40,600)] $33,698        Loss from Operations [$8,800 - (17% x $8,800)] ($7,304) $26,394 Net Income / (Loss) $429,394 Other Comprehensive Income        Unrealized Holding Loss of Available-for-Sale Securities [$83,000 - (17% x $83,000)] ($68,890) Comprehensive Income $360,504

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