Use the Musicality data in S11-3. In addition, Musicality had unrealized gains of $2,100 on available-for-sale investments and a $3,200 foreign-currency translation adjustment (a gain) during 2016. Both amounts are net of tax and in thousands. Start with Musicality's net income from S11-3 and show how the company could report other comprehensive income on its 2016 financial statements.
Should Musicality report earnings per share for other comprehensive income? State why or why not.
Other gains (losses)...............................$(23,000)
Net sales revenue...................................195,000
Loss on discontinued operations..................10,000
Cost of goods sold..................................74,000
Operating expenses.................................66,000
Accounts receivahle.................................22,000