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Paxdot Labs Provided the Following Partial Trial Balance for the Current

Question 85

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Paxdot Labs provided the following partial trial balance for the current year. Beginning with the line item Operating Income, prepare a statement of net income for the year ended December 31. Paxdot is subject to a 40% income tax rate.
Paxdot Labs
Partial Trial Balance (Selected Accounts)
For the Year Ended December 31
 Accounts  Debit  Credit  Operating Income $233,000 Dividend Income 24,680 Gain on Sale of Discontinued Operations 37,010 Unrealized Gain on Trading Investments 37,260 Gain on Foreign Currency Translation 23,030 Loss on Asset Impairment 15,420 Loss from Discontinued Operations 18,340\begin{array} { l r r } \text { Accounts } & \text { Debit } & \text { Credit } \\\text { Operating Income } & & \$ 233,000 \\\text { Dividend Income } & & 24,680 \\\text { Gain on Sale of Discontinued Operations } & & 37,010 \\\text { Unrealized Gain on Trading Investments } & & 37,260 \\\text { Gain on Foreign Currency Translation } & 23,030 & \\\text { Loss on Asset Impairment } & 15,420 & \\\text { Loss from Discontinued Operations } & 18,340 &\end{array}

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Paxdot Labs
Statement of Net Income
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