For the fiscal year ending December 31, 2023, Crane Ltd. reported sales revenue of $7,299,000 and cost of goods sold of $5,562,000.
The company had selling and administrative expenses of $437,000. During the year, the company sold some equipment for a gain of
$25,000, and had unrealized holding gains on investments designated as fair value through other comprehensive income (OCI) of
$4,600.
Prepare a combined statement of comprehensive income. Ignore taxes and earnings per share (EPS).
Crane Ltd.
Statement of Comprehensive Income
Sales Revenue
Cost of Goods Sold
Gross Profit
$ 7,299,000
$ 5,562,000
1,737,000
Comprehensive Income
$