Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello

تمرين 8

Minor. Inc., had revenue of $572,000 and expenses (Other than income taxes) of $282,000 for the current year. The company is subject to a 35 percent income tax rate. In addition, available-for-sale investments, which were purchased for $17,500 early in the year, had a market value at the end of the year of $19,200.
a. Determine the amount of Minor's net income for the year.
b. Determine the amount of Minor's comprehensive income for the year.
c. How would your answers to pans a and b differ if the market value of Minor's investments at the end of the year had been $14,200?