The statement of comprehensive income for the years ended December 31, 2006 and 2007, plus selected items
Question:
There were no dividends or purchases or sales of temporary investments. Other comprehensive items included only after-tax unrealized gains and losses on investments. Determine the missing lettereditems.
Transcribed Image Text:
McClain Wholesalers, Inc. Statement of Comprehensive Income For the Years Ended December 31, 2006 and 2007 2006 Net income Other comprehensive income (loss), net of tax Total comprehensive income a. b. C. 2007 36,000 2,000 McClain Wholesalers, Inc. Selected Balance Sheet Items December 31, 2005, 2006, and 2007 Dec. 31 2005 Dec. 3 2006 Dec. 31 2007 Temporary investments in marketable securities at fair market value, net of taxes o 26,000 140,000 180,000 n unrealized gains or losses d. Retained earnings Accumulated other comprehensive g. income or (loss) (5,000) (8,000) h.
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Related Book For
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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