Pronghorn Company Limited reported the following for 2020: sales revenue, $1.13 million; cost of goods sold, $706,250;
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Pronghorn Company Limited reported the following for 2020: sales revenue, $1.13 million; cost of goods sold, $706,250; selling and administrative expenses, $337,000; gain on disposal of building, $296,000; and unrealized gain-OCI (related to FV-OCI equity investments with gains/losses not recycled) $17,000. Assume investments are accounted for as FV-OCI investments, with gains/losses not recycled through net income.
Prepare a statement of comprehensive income. Ignore income tax and EPS.
Related Book For
Essentials of Accounting for Governmental and Not-for-Profit Organizations
ISBN: 978-0073527055
10th Edition
Authors: Paul A. Copley
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