Select the Correct Presentation for Other Comprehensive Income on the Financial

Multiple Choice

Select the correct presentation for other comprehensive income on the financial statements of Puma Company.

A)
Puma Company
Income Statement
For the Year Ended December 31,20 Y3
$\begin{array}{lr}\text { Sales } & \$ 625,000 \\\text { Cost of goods sold } & 350,000 \\\text { Gross profit } & \$ 275,000 \\\text { Operating expenses } & 135,000\\\text { Net income } & \$ 140,000 \\\text { Other comprehensive income } & \$ 20,000 \\\text { Comprehensive income } & \$ 160,000\end{array}$
B)
Puma Company
Statement of Comprehensive Income
For the Year Ended December 31, $20 \mathrm { Y } 3$
$\begin{array}{lr}\text { Net income } & \$ 140,000 \\\text { Other comprehensive income } & 20,000 \\\text { Comprehensive income } & \$ 160,000\end{array}$
C) Both are correct
D) Neither is correct