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O'Reilly Beverage Company reported net income of $810,000 for 2021. In addition, the company deferred a $85,000 pretax loss on derivatives and had pretax net
O'Reilly Beverage Company reported net income of $810,000 for 2021. In addition, the company deferred a $85,000 pretax loss on derivatives and had pretax net unrealized gains on debt securities of $40,000. 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.)
O'Reilly Beverage Company reported net income of $810,000 for 2021. In addition, the company deferred a $85,000 pretax loss on derivatives and had pretax net unrealized gains on debt securities of $40,000. 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.) O'REILLY BEVERAGE COMPANY Statement of Comprehensive Income For the Year Ended December 31, 2021 Net income (loss) Other comprehensive income (loss): Loss on derivatives Gain on debt securities Total other comprehensive income (loss) Comprehensive income (loss)Step by Step Solution
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