Roxanne Carter Corporation reported the following for 2020: net sales $1,200,000, cost of goods sold $750,000, selling

Question:

Roxanne Carter Corporation reported the following for 2020: net sales $1,200,000, cost of goods sold $750,000, selling and administrative expenses $320,000, and an unrealized holding gain on available-for-sale debt securities $18,000.

Instructions

Prepare a statement of comprehensive income, using

(a) The one statement format,

(b) The two statement format. (Ignore income taxes and earnings per share.)

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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