The trial balance of Rollins Incorporated included the following accounts as of December 31, 2024:Sales revenueInterest revenueLoss on sale of investmentsLoss on debt investmentsGain on projected benefit obligationCost of goods soldSelling expenseRestructuring costsInterest expenseGeneral and administrative expenseDebits$ 15,000126,0003,860,000340,000150,00015,000240,000Credits$ 5,300,00037,000230,000The loss on debt investments represents a decrease in the fair value of debt securities and is classified as part of other comprehensiveincome. Rollins had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. Theeffective tax rate is 25%.ROLLINS INCORPORATEDStatement of Comprehensive IncomeRequired:Prepare a 2024 single, continuous statement of comprehensive income for Rollins Incorporated. Use a multiple-step income statementformat.Note: Round Earnings per share answer to 2 decimal places.

A statement of comprehensive income is a financial report that presents a company's overall…

Required: Prepare a 2024 single, continuous statement of comprehensive income for Rollins Incorporated. Use a multiple-step income statement format. Note: Round Earnings per share answer to 2 decimal places.

Required: Prepare a 2024 single, continuous statement of comprehensive income for Rollins Incorporated. Use a multiple-step income statement format. Note: Round Earnings per share answer to 2 decimal places.

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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Question

The trial balance of Rollins Incorporated included the following accounts as of December 31, 2024:
Sales revenue
Interest revenue
Loss on sale of investments
Loss on debt investments
Gain on projected benefit obligation
Cost of goods sold
Selling expense
Restructuring costs
Interest expense
General and administrative expense
Debits
$ 15,000
126,000
3,860,000
340,000
150,000
15,000
240,000
Credits
$ 5,300,000
37,000
230,000
The loss on debt investments represents a decrease in the fair value of debt securities and is classified as part of other comprehensive
income. Rollins had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The
effective tax rate is 25%.
ROLLINS INCORPORATED
Statement of Comprehensive Income
Required:
Prepare a 2024 single, continuous statement of comprehensive income for Rollins Incorporated. Use a multiple-step income statement
format.
Note: Round Earnings per share answer to 2 decimal places.

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