In the statement of stockholders€™ equity, the following information was available:
Net income............. 159,000
Loss on available-for-sale securities... 11,000
Comprehensive income....... 148,000

Required:
Prepare a statement of comprehensive income using the proposed new format as described in thechapter.

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Income Statement for year ended 2011 -$ 800,000 350,000 450,000 Sales Cost of Goods Sold Gross margin Expenses Bad debt expense Depreciation expense Interest expense 18,000 40,000 36,000 90,000 10,000 12,000 Wage expense Loss on sale of equipment Other expenses (206,000) Other Income Gain on bond retirement Equity income 14,000 7.000 21,000 $265,000 106,000 159,000 Income before taxes Income tax expense (40%) Net Income