What net amount should be reported as OCI for current year

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Reference no: EM132813535

Problem - ABC Company provided the following information for the current year:

Income from continuing operations

4,000,000

Income from discontinued operation

500,000

Unrealized gain on financial asset - FVPL

800,000

Unrealized loss on equity investment - FVOCI

1,000,000

Unrealized gain on debt investment - FVOCI

1,200,000

Unrealized gain on futures contract designated as a cash flow hedge

400,000

Translation loss on foreign operation

200,000

Net "remeasurement" gain on defined benefit plan

600,000

Loss on credit risk of a financial liability at FVPL

300,000

Revaluation surplus during the year

2,500,000

Required -

1. What amount should be reported as net income for the current year?

2. What net amount should be reported as OCI for the current year?

3. What amount should be reported as comprehensive income for the current year?

Reference no: EM132813535

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