An inexperienced accountant for Crane Corporation showed the following in the income statement: net income $187,500 and unrealized gain on available-for-sale securitles (before taxes) $85,000. The unrealized gain on available-for-sale securities is subject te a 25% tax rate Prepare a correct statement of comprehensive income. (Enter loss using elther a negative sign preceding the number eg-2,945 or parentheses eg. (2,945) CRANE CORPORATION Statement of Comprehensive Income Income before income taxes Income ta eDense Net incomedoss Unrealied holdine aln on available-for sale ecuritles

An inexperienced accountant for Crane Corporation showed the following in the income statement: net income $187,500 and unrealized gain on available-for-sale securitles (before taxes) $85,000. The unrealized gain on available-for-sale securities is subject te a 25% tax rate Prepare a correct statement of comprehensive income. (Enter loss using elther a negative sign preceding the number eg-2,945 or parentheses eg. (2,945) CRANE CORPORATION Statement of Comprehensive Income Income before income taxes Income ta eDense Net incomedoss Unrealied holdine aln on available-for sale ecuritles

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Q.11.
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