Construct a correct statement of comprehensive income

Reference no: EM131837496

Question: An inexperienced accountant for Silva Corporation showed the following in the income statement: income before income taxes $450,000 and unrealized gain on available for-sale securities (before taxes) $70,000. The unrealized gain on available-for-sale securities and income before income taxes are both subject to a 25% tax rate. Prepare a correct statement of comprehensive income.

Reference no: EM131837496

Questions Cloud

First withdrawal is at the end of your first retirement year : How much will you have to save each year over next 40 years to meet your goal? assume that your first withdrawal is at the end of your first retirement year.

Show the discontinued operations section of Flores statement : On June 30, Flores Corporation discontinued its operations in Mexico. On September 1, Flores disposed of the Mexico facility at a pretax loss of $640,000.

Determine its marginal cost of capital : The Nolan Corporation finds it is necessary to determine its marginal cost of capital. What is the initial weighted average cost of capital?

Find the future values of these ordinary annuities : Find the future values of these ordinary annuities. Compounding occurs once a year. Rework previous parts assuming that they are annuities due.

Construct a correct statement of comprehensive income : An inexperienced accountant for Silva Corporation showed the following in the income statement: income before income taxes $450,000 and unrealized gain.

Perform horizontal analysis using given data : On January 1, 2017, Bryce Inc. changed from the LIFO method of inventory pricing to the FIFO method. Explain how this change in accounting principle.

Company financial leverage increased : Branson Company's Financial Leverage increased from 11% to 15% in the current year, while its average cost of borrowing remained the same.

Create portfolio with expected rate of return : Return Risk Free= .05; You have $4.8 million of your own money and want to create a portfolio with an expected rate of return of 50%.

Conduct covered interest arbitrage : If you conduct covered interest arbitrage, what U.S. dollar amount will you have after one year?

User Account

All Pages