Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Help me figure out the correct answer for the last three? Thanks! O'Reilly Beverage Company reported net income of $790,000 for 2021. In addition, the

image text in transcribed
Help me figure out the correct answer for the last three? Thanks!
O'Reilly Beverage Company reported net income of $790,000 for 2021. In addition, the company deferred a $65,000 pretox loss on derivatives and had pretax net unrealized gains on debt securities of $30,000. Prepare a separate statement of comprehensive income for 2021. The company's income tax rate is 25% (Amounts to be deducted should be indicated with a minus sign.) Answer is complete but not entirely correct. O'REILLY BEVERAGE COMPANY Statement of Comprehensive Income For the Year Ended December 31, 2021 Net income foss) 790,000 Other comprehensive income Lasson derivatives 5 (48,750) Gainon debt securities 122.500) Total other comprehensive income oss) (71.250) 83 Comprehensive income oss) s 718.7503

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: J. David Spiceland, James Sepe, Mark Nelson

6th edition

978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163

More Books

Students also viewed these Accounting questions

Question

What is the purpose of producing use cases?

Answered: 1 week ago

Question

zybooks lab driving costs

Answered: 1 week ago

Question

What is Nutriens approach to handling personal information?

Answered: 1 week ago