A consolidated statement of comprehensive income for Eli Lilly, a major pharmaceutical, is provided below (dollars in

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A consolidated statement of comprehensive income for Eli Lilly, a major pharmaceutical, is provided below (dollars in millions).

REQUIRED:Define comprehensive income and describe the events that led to the dollar values (positive and negative) associated with foreign currency translation adjustments and net unrealized gains (losses) on securities.

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Financial Accounting in an Economic Context

ISBN: 978-0470635292

8th Edition

Authors: Jamie Pratt

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Question Posted: Nov 18, 2011 04:03 AM

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A consolidated statement of comprehensive income for Eli Lilly, a major pharmaceutical, is provided below (dollars in

Question:

2008 2007 2006 S(2,072) $2,953 $2,663 Net income Other comprehensive income (loss): Foreign currency translation adjustments Net unrealized gains (losses) on securities Other items (inc. SFAS 158) Comprehensive income (766) 757 542 (3) 81 (11) 656 $4,355 (191) (1,843) S(4,872) S3,283

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Comprehensive income includes all nonowner related changes in stockholders equity that do not appear ...View the full answer

Financial Accounting in an Economic Context

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