Prepare a separate statement of comprehensive income

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Reference no: EM132654216

Question - The trial balance of Rollins Inc. included the following accounts as of December 31, 2021:

Debits Credits Sales revenue 5,900,000

Interest revenue 40,000

Loss on sale of investments 10,000

Loss on debt investments 160,000

Gain on projected benefit obligation 260,000

Cost of goods sold 4,400,000

Selling expense 400,000

Restructuring costs 190,000

Interest expense 20,000

General and administrative expense 300,000

The loss on debt investments represents a decrease in the fair value of debt securities and is classified as part of other comprehensive income. Rollins had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 25%.

Required - Prepare a 2021 separate statement of comprehensive income for Rollins Inc.

Reference no: EM132654216

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