Question

Bramble Corporation reported the following for 2020: net sales $1,222,800, cost of goods sold $734,300, selling and administrative expenses $322,600, and an unrealized holding gain on available-for-sale debt securities $16,000.

Prepare a statement of comprehensive income using the one statement format. (Ignore income taxes and earnings per share.)

BRAMBLE CORPORATION Statement of Comprehensive Income choose the accounting period                                                                      December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020
select a comprehensive income item                                                                      Net SalesSelling and Administrative ExpensesNet Income / (Loss)Gross Profit / (Loss)Comprehensive IncomeCost of Goods SoldOther Comprehensive Income Unrealized Holding Gain		$enter a dollar amount
select a comprehensive income item                                                                      Selling and Administrative ExpensesComprehensive IncomeGross Profit / (Loss)Net SalesCost of Goods SoldOther Comprehensive Income Unrealized Holding GainNet Income / (Loss)		enter a dollar amount
select a summarizing line for the first part                                                                      Cost of Goods SoldGross Profit / (Loss)Net SalesNet Income / (Loss)Selling and Administrative ExpensesComprehensive IncomeOther Comprehensive Income Unrealized Holding Gain		enter a total of the two previous amounts
select a comprehensive income item                                                                      Net Income / (Loss)Gross Profit / (Loss)Comprehensive IncomeNet SalesOther Comprehensive Income Unrealized Holding GainCost of Goods SoldSelling and Administrative Expenses		enter a dollar amount
select a summarizing line for the second part                                                                      Selling and Administrative ExpensesNet SalesOther Comprehensive Income Unrealized Holding GainGross Profit / (Loss)Cost of Goods SoldComprehensive IncomeNet Income / (Loss)		enter a total of the two previous amounts
select a comprehensive income item                                                                      Comprehensive IncomeGross Profit / (Loss)Selling and Administrative ExpensesNet Income / (Loss)Net SalesOther Comprehensive Income Unrealized Holding GainCost of Goods Sold		enter a dollar amount
select a closing name for this statement                                                                      Other Comprehensive Income Unrealized Holding GainNet Income / (Loss)Selling and Administrative ExpensesGross Profit / (Loss)Cost of Goods SoldComprehensive IncomeSales Revenue		$enter a total amount for this statement

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Prepare a statement of comprehensive income, using the two statement format. (Ignore income taxes and earnings per share.)

BRAMBLE CORPORATION Income Statement choose the accounting period                                                                      December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020
select an income statement item                                                                      Comprehensive IncomeCost of Goods SoldDividendsGross Profit / (Loss)Net Income / (Loss)Net SalesOther Comprehensive Income Unrealized Holding GainRetained Earnings, January 1Retained Earnings, December 31Selling and Administrative ExpensesTotal ExpensesTotal Revenues		$enter a dollar amount
select an income statement item                                                                      Comprehensive IncomeCost of Goods SoldDividendsGross Profit / (Loss)Net Income / (Loss)Net SalesOther Comprehensive Income Unrealized Holding GainRetained Earnings, January 1Retained Earnings, December 31Selling and Administrative ExpensesTotal ExpensesTotal Revenues		enter a dollar amount
select a summarizing line for the first part                                                                      Comprehensive IncomeCost of Goods SoldDividendsGross Profit / (Loss)Net Income / (Loss)Net SalesOther Comprehensive Income Unrealized Holding GainRetained Earnings, January 1Retained Earnings, December 31Selling and Administrative ExpensesTotal ExpensesTotal Revenues		enter a subtotal of the two previous amounts
select an income statement item                                                                      Comprehensive IncomeCost of Goods SoldDividendsGross Profit / (Loss)Net Income / (Loss)Net SalesOther Comprehensive Income Unrealized Holding GainRetained Earnings, January 1Retained Earnings, December 31Selling and Administrative ExpensesTotal ExpensesTotal Revenues		enter a dollar amount
select a closing name for this statement                                                                      Comprehensive IncomeCost of Goods SoldDividendsGross Profit / (Loss)Net Income / (Loss)Net SalesOther Comprehensive Income Unrealized Holding GainRetained Earnings, January 1Retained Earnings, December 31Selling and Administrative ExpensesTotal ExpensesTotal Revenues		$enter a total net income or loss amount
BRAMBLE  CORPORATION Comprehensive Income Statement choose the accounting period

Answer 1