Marigold Company Limited reported the following for 2023: sales revenue, $1.19 million; cost of goods sold, $743,750; selling and administrative expenses, $318,000; gain on disposal of building, $277,000; and unrealized gain-OCI (related to FV-OCI equity investments with gains/losses not recycled), $20,000. Assume investments are accounted for as FV-OCI equity investments, with gains/losses not recycled through net income. Prepare a statement of comprehensive income. Ignore income tax and EPS.

Marigold Company Limited reported the following for 2023: sales revenue, $1.19 million; cost of goods sold, $743,750; selling and administrative expenses, $318,000; gain on disposal of building, $277,000; and unrealized gain-OCI (related to FV-OCI equity investments with gains/losses not recycled), $20,000. Assume investments are accounted for as FV-OCI equity investments, with gains/losses not recycled through net income. Prepare a statement of comprehensive income. Ignore income tax and EPS.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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