Reference no: EM132697480
The trial balance for Blue Bell Company for the year ended December 31, 2019 included the following accounts:
Sales revenue = $320,000
Cost of goods sold = $195,000
Selling and administrative expenses = $110,000
Interest income = $88,000
Other expenses = $70,000
Gain on derivatives = $43,650
Gain on investment securities = $26,700
- The gains on derivatives and investment securities are unrealized and classified as other comprehensive income
- Each component of other comprehensive income should be calculated net of tax
- Blue Bell's income tax rate on all items is 30%
Required Task
Problem a: Calculate the following amounts for the company's 2019 statement of comprehensive income (round all answers to the nearest dollar amount):
1. Operating income =
2. Gain on investment securities =
3. Comprehensive income =
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