Answer:
A. Both of these choices are correct.
Explanation:
Both of these choices are correct as they are rightly presented.
Puma Company
Statement of Comprehensive Income
For the Year Ended December 31, 20Y3
Net income $140,000
Other comprehensive income <u>$20,000</u>
Comprehensive income <u>$160,000</u>
Puma Company
Income Statement
For the Year Ended December 31, 20Y3
Sales $625,000
Cost of goods sold <u>$350,000</u>
Gross profit $275,000
Operating expenses <u>$135,000</u>
Net income $140,000
Other comp. income <u>$20,000</u>
Comprehensive income <u>$160,000</u>