30 November, 05:40

# Roxanne Carter Corp. reported the following for 2014: net sales \$1,200,000; COGS \$750,000; selling and administrative expenses \$320,000; and an unrealized holding gain on available-for-sale securities \$18,000.Prepare a statement of comprehensive income, using (a) the one statement format, and (b) the two statement format. (Ignore income taxes and EPS).

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1. 30 November, 06:48
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unrealized holding gain = \$18,000

income is \$148000

Explanation:

given data

net sales = \$1,200,000

COGS = \$750,000

selling and administrative expenses = \$320,000

unrealized holding gain = \$18,000

solution

we get here comprehensive income as that

income = sales - COGS - sale and administrative expenses + unrealized holding gain ... 1

income = \$1,200,000 - \$750,000 - \$320,000 + \$18,000

income = \$1,48,000

and

income from other format

income = sales - COGS - sale and administrative expenses ... 2

income = \$1,200,000 - \$750,000 - \$320,000

income = \$130000

so

unrealized holding gain = \$18,000

income is \$148000