The Following Information Is Available for Janeway Corporation for the Year

question 14

Multiple Choice

The following information is available for Janeway Corporation for the year 2012: Given this information, what is Janeway's comprehensive income for 2012?

• A) $41,250
• B) $39,450
• C) $37,500
• D) $57,450

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Definitions:

Extraordinary Item

Unusual and infrequent gains or losses that are distinct from the regular operations of a company, reported separately in financial statements.

Income Statement

A financial statement that reports a company's revenues, expenses, and net income over a specific period, showing profitability.

Special Item

Unusual or infrequent gains or losses not classified as extraordinary but significantly important to understand a company's financial health.

Asset Increase

An increase in the total value of assets owned by a company, which can occur due to acquisitions, improvements, or valuation increases.