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Novak Company Limited reported the following for 2023 : sales revenue, $1.25 million; cost of goods sold, $781,250; selling and administrative expenses, $314,000; gain on
Novak Company Limited reported the following for 2023 : sales revenue, $1.25 million; cost of goods sold, $781,250; selling and administrative expenses, $314,000; gain on disposal of building, $266,000; and unrealized gain-OCI (related to FVOCl equity investments with gains/losses not recycled), $19,000. Assume investments are accounted for as FV-OCl equity investments, with gains/losses not recycled through net income. Prepare a statement of comprehensive income. Ignore income tax and EPS. Novak Company Limited reported the following for 2023 : sales revenue, $1.25 million; cost of goods sold, $781,250; selling and administrative expenses, $314,000; gain on disposal of building, $266,000; and unrealized gain-OCI (related to FVOCl equity investments with gains/losses not recycled), $19,000. Assume investments are accounted for as FV-OCl equity investments, with gains/losses not recycled through net income. Prepare a statement of comprehensive income. Ignore income tax and EPS
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