Balances in avaiable for sale securities account

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Reference no: EM13256904

Balances in avaiable for sale securities account at the end of 2011 and 2012:

12/31/11 12/31/12
cost 70000 60000
SFVA 10000 15000
FMV 80000 75000

during 2012 securities were sold with a cost of 10000 for 9000.
income statement
FYE 12/31/12
sales 1000000
cogs (700000)
gross profit 300000
selling and admin (250000)
operating income 50000
other gain (loss):
loss on sale of bonds (1000)
pre tax income 49000
income taxes (9800)
net income 39200

prepare a statement of comprehensice income for 2012 starting with net income.

Reference no: EM13256904

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