The ledger of Jaime Corporation at December 31, 2017, contains the following summary data. Net sales $1,810,000 Cost of...

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Accounting

The ledger of Jaime Corporation at December 31, 2017, containsthe following summary data.
Net sales $1,810,000 Cost of goods sold $1,050,000
Selling expenses 117,000 Administrative expenses 153,000
Other revenues and gains 21,000 Other expenses and losses 26,000

Your analysis reveals the following additional information that isnot included in the above data.
1. The entire Puzzles Division was discontinued on August 31. Theincome from operation for this division before income taxes was$17,400. The Puzzles Division was sold at a loss of $85,300 beforeincome taxes.
2. The company had an unrealized gain on available-for-salesecurities of $116,000 before income taxes for the year.
3. The income tax rate on all items is 23%.

Prepare a statement of comprehensive income for the year endedDecember 31, 2017.

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JAIME CORPORATION Statement of Comprehensive Income For the Year Ended December 31 2017 Net sales 181000000 Cost of goods sold 105000000 Gross Profit 76000000 Selling expenses 11700000 Administrative expenses See Answer

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Net sales	$1,810,000	Cost of goods sold	$1,050,000
Selling expenses	117,000	Administrative expenses	153,000
Other revenues and gains	21,000	Other expenses and losses	26,000

1.		The entire Puzzles Division was discontinued on August 31. Theincome from operation for this division before income taxes was$17,400. The Puzzles Division was sold at a loss of $85,300 beforeincome taxes.
2.		The company had an unrealized gain on available-for-salesecurities of $116,000 before income taxes for the year.
3.		The income tax rate on all items is 23%.