Problem 2 answers:

please answer all parts

Extracted text: Problem 2 answers:


Extracted text: Gable Inc. provided you with the following information for the year ended December 31, 2021: $650,000 • Sales Cost of goods sold • Selling, general, and administrative expenses Unrealized holding loss on marketable equity securities 490,000 73,000 3,000 2,000 9,000 Dividend revenue • Interest revenue from available for sale securities Realized gain from selling available for sale securities Realized loss from selling marketable equity securities • Reclassification adjustment for gain included in net income • Unrealized holding gain on available for sale securities • Income tax expense 29,000 21,000 29,000 8,000 22,000 Required: Gable reports its comprehensive income in two separate but consecutive statements. Prepare Gable's statement of comprehensive income for the year ended December 31, 2021.