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The partial trial balance of Kroeger Inc. included the following accounts as of December 31, 2018: Debits Sales revenue Credits 8,300,000 Interest revenue 70,000
The partial trial balance of Kroeger Inc. included the following accounts as of December 31, 2018: Debits Sales revenue Credits 8,300,000 Interest revenue 70,000 Gain on sale of investments 130,000 Unrealized gains on investments 145,000 Foreign currency translation adjustment 170,000 Cost of goods sold 6,000,000 Selling expenses 700,000 Goodwill impairment loss 450,000 Interest expense General and administrative expenses 40,000 600,000 Kroeger had 300,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 40%. Required: Prepare a 2018 separate statement of comprehensive income for Kroeger Inc. (Amounts to be deducted should be indicated with a minus sign.) KROEGER INC. Statement of Comprehensive Income For the Year Ended December 31, 2018 Net income Other comprehensive income (losses): Sales revenue Cost of goods sold Sales revenue Total other comprehensive loss. $ 8,300,000 6,000,000
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