the following information for the year ending december 31 2011 250971

The following information for the year ending December 31, 2011, has been provided for Calle Company.

Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $530,000

Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 305,600

Foreign translation adjustment (net of income taxes) . . . . . . . . . . . . . . . . 51,000

Selling expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76,200

Extraordinary gain (net of income taxes) . . . . . . . . . . . . . . . . . . . . . . . . . . 36,800

Correction of inventory error (net of income taxes) . . . . . . . . . . . . . . . . . . 33,460

General and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57,300

Income tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,100

Gain on sale of investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,800

Proceeds from sale of land at cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81,000

Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,200

Instructions:

Prepare a statement of comprehensive income for Calle Company. Note: Both the foreign translation adjustment and the correction of the inventory error involve a reduction in equity.

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