Question
The trial balance of Kroeger Inc. included the following accounts as of December 31, 2016: Debits Credits Sales revenue 8,200,000 Interest revenue 60,000 Gain on
The trial balance of Kroeger Inc. included the following accounts as of December 31, 2016: | |||||
| Debits |
| Credits |
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Sales revenue |
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| 8,200,000 |
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Interest revenue |
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| 60,000 |
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Gain on sale of investments |
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| 120,000 |
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Unrealized gains on investments |
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| 140,000 |
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Foreign currency translation losses | 160,000 |
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Cost of goods sold | 6,100,000 |
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Selling expenses | 600,000 |
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Goodwill impairment loss | 500,000 |
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Interest expense | 30,000 |
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General and administrative expenses | 500,000 |
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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 2016 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, 2016 | ||
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Other comprehensive Income: |
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Total other comprehensive loss |
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