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Gulf Coast Corporation reported the following for 2014: net sales $1,000,000; cost of goods sold $700,000; selling and administrative expenses $200,000; and an unrealized holding
Gulf Coast Corporation reported the following for 2014: net sales $1,000,000; cost of goods sold $700,000; selling and administrative expenses $200,000; and an unrealized holding gain on available-for-sale securities $30,000.
REQUIRED: Determine the following, ignoring income taxes.
Unless all supporting schedules and computations for every answer are presented in good traceable order, there will be NO credit
(a)$________________Net income.
(b)$_______________Other comprehensive income.
(c)$_______________Comprehensive income.
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