Paxdot Labs Provided the Following Partial Trial Balance for the Current

question 48

Essay

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
$$\begin{array} { l r r } \text { Accounts } & \text { Debit } & \text { Credit } \\\text { Operating Income } & & \$ 233,000 \\\text { Dividend Income } & & 24,680 \\\text { Gain on Sale of Discontinued Operations } & & 37,010 \\\text { Unrealized Gain on Trading Investments } & & 37,260 \\\text { Gain on Foreign Currency Translation } & 23,030 & \\\text { Loss on Asset Impairment } & 15,420 & \\\text { Loss from Discontinued Operations } & 18,340 &\end{array}$$

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Definitions:

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