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.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Items that will not be recycled subsequently to net income or loss:
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Transcribed Image Text: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
Statement of Comprehensive Income
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