A company revenue reports the following information as of December 31: Sales revenue $800,000 Cost of goods sold 600,000 Operating income 90,000 Unrealized holding gain on available for sale debt securities, net of tax 30,000. What amount should the company report as comprehensive income as of December 31?

$320,000

Explanation:

As we know that the

Comprehensive Income = Operating profits + Unrelated profits

The unrelated profits here is profit generated arising due to the sale of debt securities which is not the core operation of the company and hence is unrelated profits.

So by putting values we have:

Comprehensive Income =  ($800,000 - $600,000 + $90,000)  + $30,000

Comprehensive Income =  $320,000

$120,000

Explanation:

The formula to calculate comprehensive income is:

comprehensive income = net income + other comprehensive income

comprehensive income = $90,000 + $30,000 = $120,000

*Other comprehensive income includes unrealized revenues, gains, expenses and losses.

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