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

Exercise 49

Crasher Company had net income in the current year of $500,000. In addition, the company had an unrealized gain on its portfolio of available-for-sale investments of $20,000, net of related income taxes. Assuming the company uses the two-income statement approach for presenting elements of other comprehensive income to its investors and creditors, prepare the statement of comprehensive income for the current year.