Solution-Prepare the statement of comprehensive income

Prepare the statement of comprehensive income

Reference no: EM133165325

Question - The following selected account balances were taken from the records of BinJin Company for the year 2021:

Account	Amount
Depreciation - office	525,000.00
Depreciation - store	245,000.00
Dividend Revenue	350,000.00
Freight in	87,500.00
Freight out	280,000.00
Income from Associates	393,750.00
Income tax expense	1,120,000.00
Interest Expense	218,750.00
Inventory, December 31	2,450,000.00
Inventory, January 1	1,750,000.00
Loss from Earthquake	148,750.00
Loss on expropriation of land	157,500.00
Loss on sale of equipment	96,250.00
Loss on sale of financial assets through profit or loss	131,250.00
Officers' Salaries	875,000.00
Purchase Discounts	245,000.00
Purchase Returns	840,000.00
Purchases	9,100,000.00
Rent Revenue	525,000.00
Revaluation surplus	220,500.00
Sales	13,650,000.00
Sales Discounts	420,000.00
Sales Returns	105,000.00
Salesmen's commissions	1,120,000.00

Required - Prepare the statement of comprehensive income in one statement format for BinJin Company for the year ended December 31, 2021. Use the function of expense method with supporting notes.

Reference no: EM133165325

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Prepare the statement of comprehensive income

Reference no: EM133165325

Reference no: EM133165325

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