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Willie Nelson, Jr . , controller for Bramble Corporation, is preparing the company's financial statements at year - end. Currently, he is focusing on the
Willie Nelson, Jr controller for Bramble Corporation, is preparing the company's financial statements at yearend. Currently, he is
focusing on the income statement and determining the format for reporting comprehensive income. During the year, the company
earned net income of $ and had unrealized gains on availableforsale debt securities of $ In the previous year, net
income was $ and the company had no unrealized gains or losses.
a
Show how income and comprehensive income will be reported on a comparative basis for the current and prior years, using the
two statement format.
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