The following information is available for Janeway Corporation for the year 2012: Given this information, what is Janeway's comprehensive income for 2012?

Question

The following information is available for Janeway Corporation for the year 2012:  Given this information, what is Janeway's comprehensive income for 2012?

Quizplus · Accepted Answer

Comprehensive income is calculated as net income + other comprehensive income. Using the provided information:
Net income = $60,000 - $17,550 - $1,500 = $41,250
Other comprehensive income = $2,400 + $100 + $700 - $500 - $500 = $1,200
Therefore, comprehensive income = $41,250 + $1,200 = $39,450. Therefore, the answer is B.

The Following Information Is Available for Janeway Corporation for the Year