Comprehensive income can be disclosed in various formats. Which of the following is an acceptable format for disclosing comprehensive income?
| I. | At the bottom of the income statement, continue from net income and add other comprehensive income to arrive at comprehensive income for the year. | | II. | In a separate statement, start with net income and add other comprehensive income to arrive at comprehensive income for the year. | | III. | In the statement of stockholders’ equity, net income is adjusted for other comprehensive income to arrive at comprehensive income for the year. | | IV. | After retained earnings in the stockholders’ equity section of the statement of financial position, start with net income and add other comprehensive income to arrive at comprehensive income for the year.
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A. I and II B. II and III C. III and IV D. All of the above are acceptable |
