FINANCIAL ACCOUNTING: TOOLS LL W/ ACCES
FINANCIAL ACCOUNTING: TOOLS LL W/ ACCES
9th Edition
ISBN: 9781119493648
Author: Kimmel
Publisher: WILEY
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Chapter 13, Problem 4Q
To determine

Comprehensive Income: It is an extension to net income. These include revenue, expenses, gains, and losses that are included in net income of the company. Comprehensive income includes unrealized holding gains and losses on the investments.

Formula:

Comprehensiveincome=Net income+Othercomprehensiveincome

Vertical Analysis: Vertical analysis is prepared to analyze the relationship among various financial statements with a particular base amount. Use the following formula to calculate vertical analysis percentage:

Formula:

Vertical analysis percentage =(Specific item – Base amountBaseamount)×100

This analysis is otherwise called as common-size statement.

To report: The amount of comprehensive income and the net income.

Given info: Net income and comprehensive income

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