Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. prepare a statement of comprehensive income, using

Prepare a statement of comprehensive income, using the two statement format. (Ignore income taxes and...

80.2K

Verified Solution

Question

Accounting

image
image
image
image
Prepare a statement of comprehensive income, using the two statement format. (Ignore income taxes and earnings per sha SWIFTY CORPORATION Comprehensive Income Statement $ $ Swifty Corporation reported the following for 2025 : net sales $6,174,000; cost of goods sold $3,620,000; selling and administrative expenses $1,615,000; and an unrealized holding gain on available-for-sale securities $113,500. Your answer is correct. Prepare a statement of comprehensive income using the one statement format. (Ignore income taxes and earnings per share.) Question 9 of 13 SWIFTY CORPORATION Income Statement and Statement of Comprehensive Income For the Year Ended December 31, 2025 Sales $6,174,000 Cost of Goods Sold Gross Profit 2,554,000 Selling and Administrative Expenses \begin{tabular}{|l|l|} \hline 1,615,000 & i \\ \hline \end{tabular} Net Income / (Loss) 939,000 Unrealized Holding Gain Comprehensive Income $1,052,500

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students