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For the fiscal year ending December 31, 2020, Blossom Ltd. reported sales revenue of $7,338,000 and cost of goods sold of $5,743,000. The company had
For the fiscal year ending December 31, 2020, Blossom Ltd. reported sales revenue of $7,338,000 and cost of goods sold of $5,743,000. The company had selling and administrative expenses of $440,000. During the year, the company sold some equipment for a gain of $24,200, and had unrealized holding gains on investments designated as fair value through other comprehensive income (OCI) of $4,900. Prepare a combined statement of comprehensive income. Ignore taxes and earnings per share (EPS). Blossom Ltd. Statement of Comprehensive Income For the year ended December 31, 2020
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