How much is the comprehensive income

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Reference no: EM133133536

Question - The related data of Archangel Company:

Cost of goods sold P 1,875,200

Dividends income 50,000

Income from discontinued operations 28,500

Income tax expense 357,800

Interest income 9,000

Net re-measurement gain 57,600

Sales 3,920,000

Sales discount 30,000

Sales returns and allowances 25,000

Selling and administrative expenses 500,800

Additional information (not included above): At the beginning of the year, the entity issued bonds payable with a face amount of P2,000,000 for P1,920,000.

The nominal rate of the bonds is 12% and the entity irrevocably designated the fair value option.

At year-end, the fair value of the bonds payable is P1,985,000 wherein, P30,000 is due to other than credit risk.

Required -

1. How much is the net income?

2. How much is the comprehensive income?

Reference no: EM133133536

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