Question
Reach Out Card Company Limited reported the following for 2014: net sales revenue $1.25 million; cost of goods sold $781,250; selling and administrative expenses $312,000;
Reach Out Card Company Limited reported the following for 2014: net sales revenue $1.25 million; cost of goods sold $781,250; selling and administrative expenses $312,000; gain on disposal of building $263,000; and unrealized gain-OCI (related to fair value through OCI investments) $20,000. The company accounts for its investments in accordance with IAS 39.
Prepare a statement of comprehensive income. Ignore income tax and EPS.
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
5th Canadian Edition
1119403995, 9781119403999
