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The trial balance of Rollins Inc. included the following accounts as of December 31, 2021: Debits Sales revenue Interest revenue Credits 6,500,000 43,000 Loss on
The trial balance of Rollins Inc. included the following accounts as of December 31, 2021: Debits Sales revenue Interest revenue Credits 6,500,000 43,000 Loss on sale of investments Loss on debt investments 10,000 174,000 Gain on projected benefit obligation 290,000 Cost of goods sold 4,940,000 Selling expense 460,000 Restructuring costs 210,000 Interest expense General and administrative expense 20,000 360,000 The loss on debt investments represents a decrease in the fair value of debt securities and is classified as part of other comprehensive income. Rollins had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 25%. Required: Prepare a 2021 single, continuous statement of comprehensive income for Rollins Inc. Use a multiple-step income statement format. (Amounts to be deducted should be indicated with a minus sign. Round Earnings per share answer to 2 decimal places.) Interest revenue ROLLINS INC. Statement of Comprehensive Income For the Year Ended December 31, 2021 Gross profit Operating expenses: Total operating expenses Operating income Other income (expense): 0 0 Total other income, net Income before income taxes Net income (loss) Other comprehensive income (net of tax): Total other comprehensive income Comprehensive income Earnings per share 0 0
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