For the fiscal year ending December 31, 2023, Pharoah Ltd. reported sales revenue of $7,284,000 and cost of goods sold of $5,679,000. The company had selling and administrative expenses of $464,000. During the year, the company sold some equipment for a gain of $24,700, and had unrealized holding gains on investments designated as fair value through other comprehensive income (OCI) of $5,000. Prepare a combined statement of comprehensive income. Ignore taxes and earnings per share (EPS). Pharoah Ltd. Statement of Comprehensive Income 10

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Prepare a combined statement of comprehensive income. Ignore taxes and earnings per share (EPS).
Pharoah Ltd.
Statement of Comprehensive Income
$
GA
Transcribed Image Text:Prepare a combined statement of comprehensive income. Ignore taxes and earnings per share (EPS). Pharoah Ltd. Statement of Comprehensive Income $ GA
For the fiscal year ending December 31, 2023, Pharoah Ltd. reported sales revenue of $7,284,000 and cost of goods sold of
$5,679,000. The company had selling and administrative expenses of $464,000. During the year, the company sold some equipment
for a gain of $24,700, and had unrealized holding gains on investments designated as fair value through other comprehensive income
(OCI) of $5,000.
Prepare a combined statement of comprehensive income. Ignore taxes and earnings per share (EPS).
Pharoah Ltd.
Statement of Comprehensive Income
10
Transcribed Image Text:For the fiscal year ending December 31, 2023, Pharoah Ltd. reported sales revenue of $7,284,000 and cost of goods sold of $5,679,000. The company had selling and administrative expenses of $464,000. During the year, the company sold some equipment for a gain of $24,700, and had unrealized holding gains on investments designated as fair value through other comprehensive income (OCI) of $5,000. Prepare a combined statement of comprehensive income. Ignore taxes and earnings per share (EPS). Pharoah Ltd. Statement of Comprehensive Income 10
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