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Comprehensive Income
Tarzana Corporation Completed Its First Year of Operations

Question 98

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Comprehensive income
Tarzana Corporation completed its first year of operations on December 31, 2020. Results and other information for the year included the following:
Sales......................................................................................... $810,000 Cost of goods sold.................................................................... 320,000Operating expenses................................................................... 94,000Unrealized holding gain from investments (accounted for  under the fair value through comprehensive income model)..... 31,000\begin{array}{llcc} \text {Sales......................................................................................... } &\$810,000 \\ \text { Cost of goods sold.................................................................... } &320,000\\ \text {Operating expenses................................................................... } &94,000\\ \text {Unrealized holding gain from investments (accounted for } &\\ \text { under the fair value through comprehensive income model)..... } &31,000 \end{array}
Instructions
Based on the information provided, prepare a combined statement of income and comprehensive income. Ignore income taxes and EPS.

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