Unrealized and classified as other comprehensive income

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Reference no: EM133674889

The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2024, included the following accounts:

Account Title Debits Credits

Sales revenue $ 2,460,000

Cost of goods sold $ 1,470,000

Selling and administrative expense 423,000

Interest expense 47,000

Gain on debt securities 87,000

The gain on debt securities is unrealized and classified as other comprehensive income. The trial balance does not include the accrual for income taxes. Lindor's income tax rate is 25%.

A single, continuous multiple-step statement of comprehensive income.

Reference no: EM133674889

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