Korte Company reported the following information for 2014:

Sales revenue $1,500,000
Cost of goods sold 1,050,000
Operating expenses 165,000
Unrealized holding gain on available-for-sale securities 50,000
Cash dividends received on the securities 6,000

For 2014, Korte would report comprehensive income of what amount?

For 2014, Korte would report comprehensive income of $341,000.

Explanation:

Korte Company

Comprehensive income statement for 2014 (extract)

Sales revenue                             $1,500,000

Cost of goods sold                      (1,050,000)

Gross profit                                      450,000

Operating expenses                      (165,000)

Other income:

Unrealised gain on AFS securities   50,000

Dividends received                             6,000

Comprehensive income               $341,000        

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