Problem

(L.OBJ. 5) Reporting comprehensive income [5-10 min] Use the OLP data in Short Exercise...

(L.OBJ. 5) Reporting comprehensive income [5-10 min]

Use the OLP data in Short Exercise 12-8. In addition, OLP had unrealized gains of $4,500 on investments during 2012.

Requirements

1. Start with OLP’s net income from Short Exercise 12-8 and show how the company could report other comprehensive income on its 2012 income statement.

2. Should OLP report earnings per share for other comprehensive income?

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Solutions For Problems in Chapter 12

39CP

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