Reference no: EM132888840

An entity reported the following data for the current year:

Net sales 9,500,000

Cost of goods sold 4,000,000

Selling expenses 1,000,000

Administrative expenses 1,200,000

Interest expense 700,000

Gain from expropriation of land 500,000

Income tax 800,000

Income from discontinued operations 600,000

Unrealized gain on equity investment at FVOCI 900,000

Unrealized loss on futures contract designated as a cash flow hedge 400,000

Increase in projected benefit obligation due to actuarial assumptions 300,000

Foreign translation adjustment - credit 100,000

Revaluation surplus during the current year 2,500,000

Problem 1: What net amount should be recognized in other comprehensive income?

a. 2,600,000

b. 3,100,000

c. 3,400,000

d. 2,800,000

Problem 2:  What net amount in OCI should not be recycled to profit or loss?

a. 3,400,000

b. 2,700,000

c. 3,700,000

d. 3,100,000

Problem 3: What amount should be reported as comprehensive income?

a. 5,500,000

b. 2,900,000

c. 5,700,000

d. 6,000,000