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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Accounting concepts and applications
Authors: Albrecht Stice, Stice Swain
11th Edition
978-0538750196, 538745487, 538750197, 978-0538745482
