Bass Steel Provided the Following Partial-Trial Balance for the Current

Essay

Bass Steel provided the following partial-trial balance for the current year. Prepare a multi-step statement of comprehensive income for the year ended December 31. Bass Steel is subject to a 30% income tax rate.
Bass Steel Bass Steel
Partial Trial Balance (Selected Accounts)
For the Year Ended December 31
$\begin{array}{lcc} \begin{array}{l}\text { Accounts } \\\text { Sales }\end{array} & \text { Debit } & \begin{array}{l}\text { Credit } \\\$ 845,300\end{array} \\ \text { Dividend Income } & & 19,470 \\ \text { Interest Income } & & 25,420 \\ \begin{array}{l}\text { Gain on Disposal of Discontinued Operations } \\\text { Unrealized Gain on Available-for-Sale Debt }\end{array} & & 34,860 \\ \text { nvestments } & & 17,260 \\ \text { Loss on Disposal of Equipment } & \$ 9,650 & \\\text { Loss on Foreign Currency Translation } & 33,620 & \\ \text { Loss on Discontinued Operations } & 46,730 & \\ \text { Loss on Asset Impairment } & 16,060 & \\\text { Dividends } & 110,000 & \\ \text { Cost of Goods Sold } & 320,900 & \\ \text { Office Supplies Expense-General Expense } & 34,560 & \\ \text { Sales Salaries Expense } & 68,740 & \\ \text { Selling Expenses } & 11,210 & \\ \text { Accounting and Legal Fees - General Expense } & 12,400 & \\ \text { Advertising Expense } & 32,780 & \\ \text { Office Salaries Expense-General Expense } & 41,390 & \\ \text { epreciation Expense-General Expense } & 29,330 & \\ \text { erest Expense } & 7,570 & \\ \text { asury Shares Acquired } & 31,330 & \\\end{array}$