Reference no: EM132945360
Question - The trial balance of Rollins Inc. included the following accounts as of December 31, 2021
Debits Credits
Sales Revenue 5,100,000
Interest revenue 36,000
Loss on sale of investment 10,000
Loss on debt investment 118,000
Gain on projected benefit obligation. 220,000
Cost of Good Sold 3,680,000
Selling expense 320,000
Restructuring cost 140,000
Interest expense 20,000
General and administrative expense 220,000
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 single, continuous statement of comprehensive income for Rollins Inc. Use a multiple-step income statement format. (Amounts to be deducted should be indicated with a minus sign. Round Earnings per share answer to 2 decimal places.)
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