Laxmi Corporation reported financial information for the year 2016 as follows: The company had a net income of €180,000 for the year. In addition, there was an unrealized gain of €15,000 related to the revaluation of buildings. However, the company also reported an unrealized loss of €40,000 on non-trading securities. Based on this information, determine Laxmi Corporation's total comprehensive income for 2016.

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
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Total comprehensive income

Laxmi Corporation reported financial information for
the year 2016 as follows: The company had a net
income of €180,000 for the year. In addition, there
was an unrealized gain of €15,000 related to the
revaluation of buildings. However, the company also
reported an unrealized loss of €40,000 on non-trading
securities. Based on this information, determine Laxmi
Corporation's total comprehensive income for 2016.
Transcribed Image Text:Laxmi Corporation reported financial information for the year 2016 as follows: The company had a net income of €180,000 for the year. In addition, there was an unrealized gain of €15,000 related to the revaluation of buildings. However, the company also reported an unrealized loss of €40,000 on non-trading securities. Based on this information, determine Laxmi Corporation's total comprehensive income for 2016.
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