Question: Assume the same information as E17.9 and that Steffi Graf, Inc. reports net income in 2020 of $120,000 and in 2021 of $140,000. Total holding

Assume the same information as E17.9 and that Steffi Graf, Inc. reports net income in 2020 of $120,000 and in 2021 of $140,000. Total holding gains (including any realized holding gain or loss) equal $40,000 in 2021.

Instructions

a. Prepare a statement of comprehensive income for 2020, starting with net income.

b. Prepare a statement of comprehensive income for 2021, starting with net income.

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