An inexperienced accountant for Marigold Corp. showed the following in the income statement: income before income taxes $432,000 and unrealized gain on available-for-sale securities (before taxes) $85,200. The unrealized gain on available-for-sale securities and income before income taxes are both subject to a 33% tax rate. Prepare a correct statement of comprehensive income. MARIGOLD CORP. Partial Statement of Comprehensive Income $ $ >

An inexperienced accountant for Marigold Corp. showed the following in the income statement: income before income taxes $432,000 and unrealized gain on available-for-sale securities (before taxes) $85,200. The unrealized gain on available-for-sale securities and income before income taxes are both subject to a 33% tax rate. Prepare a correct statement of comprehensive income. MARIGOLD CORP. Partial Statement of Comprehensive Income $ $ >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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