On December 31, 2013, TNT Company derives the following items from its adjusted accounts:
Sales (net) ..................................................................$85,000
Unrealized increase in fair value of available-for-sale securities .....4,000
Operating expenses ........................................................18,000
Cost of goods sold .........................................................47,000
Required:
1. Prepare a 2013 multiple-step income statement that includes comprehensive income (disregard earnings per share). Assume TNT faces a 30% income tax rate.
2. Prepare (a) a 2013 multiple-step income statement (disregard earnings per share) and (b) a separate 2013 statement of comprehensive income. Assume TNT faces a 30% income tax rate.