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O'Reilly Beverage Company reported net income of $720,000 for 2021. In addition, the company deferred a...

O'Reilly Beverage Company reported net income of $720,000 for 2021. In addition, the company deferred a $90,000 pretax loss on derivatives and had pretax net unrealized gains on debt securities of $45,000. Prepare a separate statement of comprehensive income for 2021. The company's income tax rate is 25%. (Amounts to be deducted should be indicated with a minus sign.)

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Answer #1
O'Reilly Beverage Company
Statement of comprehensive income for 202
For the year ended Dec-31-2021
Net Income          720,000
Other Comprehensive Income / (Loss)
Deferred loss on derivatives, net of tax [-$90,000 x 0.75]            (67,500)
Unrealized gains on debt securities, net of tax [$45,000 x 0.75]             33,750
Total Other Comprehensive Income / (Loss)          (33,750)
Total Comprehensive Income            686,250
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