Use the Knowledge King data in Short Exercise. In addition, Knowledge King had unrealized gains of $1,100 on investments and a $2,400 foreign-currency translation adjustment (a gain) during 2010. Both amounts are net of tax. Start with Knowledge Kings net income from S11-3 and show how the company could report other comprehensive income on its 2010 income statement.

Should Knowledge King report earnings per share for other comprehensive income? State why or whynot.

Other gains (losses) Net sales revenue..184,000 Loss on discontinued 4,000 72,000 60,000 16,000 $(21,000) Extraordinary gain Cost of goods sold.. Operating expenses Accounts receivable. operations... 17,000