Problem
As a inexperienced accountant for Sandhills Transport Corporation showed the following in Sandhills transport's 2021 income statement: income before income taxes of $462,000 and unrealized loss on availability for sale debt securities (before taxes) of $81,000. The unrealized loss and income before income taxes are both subject to a 20% tax rate, how would you prepare a corrected partial income statement and a statement of comprehensive income?