8.5.7

Exercise 2-11 Preparing comprehensive income statement (LO2-5, LO2-9) JDW Corporation reported the following for 20X1: net sales $2,929,500; cost of goods sold $1,786,995; selling and administrative expenses $585,900; unrealized holding loss on available-for-sale securities (considered other comprehensive income) $22,000; a positive foreign currency translation adjustment $26,250 (considered other comprehensive income); and an unrealized loss from pension adjustment (considered other comprehensive income) $7,000. JDW's tax rate was 21%. Ignore income taxes related to amounts in other comprehensive income. Required: Prepare a multiple-step income statement and a statement of comprehensive income using the two-statement format. Ignore earnings per share. Prepare a multiple-step income statement. Ignore earnings per share. (Round your final answers to nearest whole dollar.) JDW Corporation Income Statement For the Year Ended December 31, 20X1 Income from operations, before income taxes Income Statement Stmt of Comprehensi... Income Prepare a multiple-step Statement of comprehensive income. Ignore earnings per share. JDW Corporation Statement of Comprehensive Income For the Year Ended December 31, 20X1 Net income (Unrealized holding loss, net of tax Foreign currency translation adjustment Unrealized loss from pension adjustment, net of tax