An inexperienced accountant for Concord Corporation showed the following in the income statement: income before income taxes $381,000 and unrealized gain on available-for-sale securities (before taxes) $85,700. The unrealized gain on available-for-sale securities and income before income taxes are both subject to a 30% tax rate. Prepare a correct statement of comprehensive income.
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Home » Business » An inexperienced accountant for Concord Corporation showed the following in the income statement: income before income taxes $381,000 and unrealized gain on available-for-sale securities (before taxes) $85,700.