Comprehensive Income: It’s a measure of company’s total income that includes unrealized gain that has not been received like gain on available for sale securities. Income Statement: Part of financial statements that lists the income and expenses of the business for an accounting period is called income statement. It is prepared at the end of the accounting period to know the profitability of a business. To prepare: The correct statement of comprehensive income.

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Chapter 14, Problem 14.12E

To determine

Comprehensive Income: It’s a measure of company’s total income that includes unrealized gain that has not been received like gain on available for sale securities.

Income Statement: Part of financial statements that lists the income and expenses of the business for an accounting period is called income statement. It is prepared at the end of the accounting period to know the profitability of a business.

To prepare: The correct statement of comprehensive income.

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