The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2021, included the following accounts: The gain on debt securities
The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2021, included the following accounts:
The gain on debt securities is unrealized and classified as other comprehensive income. The trial balance does not include the accrual for income taxes. Lindor?s income tax rate is 25%. There were 1,000,000 shares of common stock outstanding throughout 2021.
Required:Prepare a single, continuous multiple-step statement of comprehensive income for 2021, including appropriate EPS disclosures.
Credits Debits Account Title $2,300,000 Sales revenue Cost of goods sold Selling and administrative expense Interest expense Gain on debt securities $1,400,000 420,000 40,000 80,000
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