Question: Was given the answer, but I'd like to know how they got it! Thanks in advance. 26. In 2014 , James Company had $1,000,000 of
Was given the answer, but I'd like to know how they got it! Thanks in advance.
26. In 2014 , James Company had $1,000,000 of revenue, cost of goods sold of $600,000, operating expenses, including tax, of $300,000, an unrealized pre-tax holding gain on availablefor-sale securities of $50,000. Additionally, James issued $50,000 of common stock in 2014 and purchased $20,000 of treasury stock and began the year with $12,000 of Accumulated Other Comprehensive Income. Based only on this information, what was James's Comprehensive Income for 2014 , assuming a tax rate of 30% ? A. $135,000 B. $156,000 C. $165,000 D. None of the above
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