Question: Use the Financial Resources data in Short Exercise S11-3. In addition, Financial Resources had unrealized gains of $1,000 on investments and a $2,000 foreign-currency translation

Use the Financial Resources data in Short Exercise S11-3. In addition, Financial Resources had unrealized gains of $1,000 on investments and a $2,000 foreign-currency translation adjustment (a gain) during 20X7. Both amounts are net of tax. Start with Financial Resources' net income from S11-3 and show how the company could report other comprehensive income on its 20X7 income statement.

Should Financial Resources report earnings per share for other comprehensive income? State why or why not.

Data in Short Exercise S11-3

Other gains (losses) S (2,000) rvenu2.000 15,000 Extraordinary gain Cost of goods sold. S 5,000 71,000 Operating expenses.64,000 ...19,000 esas) Loss on discontinued Accounts receiab operations

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