Reference no: EM132431841

Question - Prepare in good form, a Statement of Comprehensive Income for ABC Corp, for the calendar year 2014 given the following information:

Sales Revenue $350,000

Other Revenue-Interest 12,000

Cost of Goods Sold 120,000

Operating Expenses 230,000

Dividends paid to shareholders 15,000

Other revenue/ (losses):

Gain on sale of collectibles-infrequent but not unusual 12,000

Loss from hurricane-unusual and infrequent event (8,000)

Decrease in value of Available for Sale securities 15,000

ABC's tax rate is 40 percent.

There are 1,000 shares of common outstanding throughout 2014.