Question

Income before any of the following items is $500,000. (All numbers are net of taxes.) Unrealized...

Income before any of the following items is $500,000. (All numbers are net of taxes.)

Unrealized gain on Trading Securities $200,000

Unrealized gain on Debt Available-for-sale Securities (OCI) 100,000

Realized loss on Discontinued Operations 400,000

Depreciation Expense of $300,000 was mistakenly omitted

five years ago--Prior Service Cost

What is Net Income?

Group of answer choices

$900,000

$600,000

$0

$300,000

$800,000

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