When the FASB ruled that public companies should report comprehensive income, it did not issue specific guidelines for how this amount and its components should be disclosed. Choose two companies in the same industry. Go to the annual reports on the websites of the two companies you have selected. In the latest annual report, look at the financial statements. How have your two companies reported comprehensive income—as part of the income statement, as part of stockholders’ equity, or as a separate statement? What items create a difference between net income and comprehensive income? Is comprehensive income greater or less than net income? Is comprehensive income more volatile than net income? Which measure of income is used to compute basic earnings per share?