Gable Inc. provided you with the following information for the year ended December 31, 2021: Sales 650,000 490,000 Cost of goods sold • Selling, general, and administrative expenses Unrealized holding loss on marketable equity securities 73,000 3,000 Dividend revenue 2,000 Interest revenue from available for sale securities 9,000 Realized gain from selling available for sale securities Realized loss from selling marketable equity securities Reclassification adjustment for gain included in net income Unrealized holding gain on available for sale securities 29,000 21,000 29,000 8,000 Income tax expense 22,000 Required: Gable reports its comprehensive income in two separate but consecutive statements. Prepare Gable's statement of comprehensive income for the year ended December 31, 2021.
Gable Inc. provided you with the following information for the year ended December 31, 2021: Sales 650,000 490,000 Cost of goods sold • Selling, general, and administrative expenses Unrealized holding loss on marketable equity securities 73,000 3,000 Dividend revenue 2,000 Interest revenue from available for sale securities 9,000 Realized gain from selling available for sale securities Realized loss from selling marketable equity securities Reclassification adjustment for gain included in net income Unrealized holding gain on available for sale securities 29,000 21,000 29,000 8,000 Income tax expense 22,000 Required: Gable reports its comprehensive income in two separate but consecutive statements. Prepare Gable's statement of comprehensive income for the year ended December 31, 2021.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 13P: Comprehensive The following are Farrell Corporations balance sheets as of December 31, 2019, and...
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