Question

During the year ended December 31, 2014, Bowersox International Corporation earned $ 3,500,000 in net income after taxes. The company reported $ 100,000 of net unrealized gains on available-for-sale securities, net of taxes and $ 150,000 in foreign currency translation gains from consolidation of its Mexican subsidiary company, net of taxes.

Requirements
1. Prepare the Statement of Comprehensive Income for Bowersox International Corporation for the year ended December 31, 2014. Use Exhibit 11- 2 on page 631 as an example.
2. Explain where the following items will appear in Bowersox International Corporation’s Statement of Stockholder’s Equity for the year ended December 31, 2014:
a. Net income
b. Net unrealized gains from available-for-sale securities, net of taxes
c. Foreign currency translation gains from consolidation of Mexican subsidiary, net of taxes.



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  • CreatedJuly 25, 2014
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