Use the Knowledge King data in Short Exercise. In addition, Knowledge King had unrealized gains of $1,100 on investments and a $2,400 foreign-currency translation adjustment (a gain) during 2010. Both amounts are net of tax. Start with Knowledge Kings net income from S11-3 and show how the company could report other comprehensive income on its 2010 income statement.

Should Knowledge King report earnings per share for other comprehensive income? State why or whynot.

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Other gains (losses) Net sales revenue..184,000 Loss on discontinued 4,000 72,000 60,000 16,000 $(21,000) Extraordinary gain Cost of goods sold.. Operating expenses Accounts receivable. … … operations... 17,000