A company reports the following information as of December 31:

The company report as comprehensive income as of December 31 Is C.

the Solution to above question is C 

The answer will definatly be B $110,000

Correct answer is C. $ 140, 000

C, =$140,000

 

800-600=200

200-90=110

110+30= 140

i will go with C, The income will be 140,000

C. 140,000 Sales revenue $800,000 Cost of goods sold -600,000 Operating expenses -90,000 Unrealized holding gain on AFS, net of tax +30,000 Net $140,000

HI I wish to go with B $140.000

Unrelized gain on short term term investment is a non taxable gain unless it is relaized, however I would assume that company follows IFRS as an accounting framework, and they deferred taxes, therefore comprehensive income shall be

(800K-600K-90K+ 30K ) =140K

B, after Subtracting costs and expenses we get 110,000$

The unrealised holding gain would be added to the Net Profit and hence the comprehensive income would increase to $140,000