1.A company reports the following information as of December 31st:

Sales revenue	$350,000
Cost of goods sold	$150,000
Operating expenses	$110,000
Foreign currency translation gain	$ 25,000

Ignoring income taxes, what amount should the company report as net income as of December 31^st?

$125,000

$90,000

$150,000

$115,000

2.A company reports the following information as of December 31st:

Sales revenue	$350,000
Cost of goods sold	$150,000
Operating expenses	$110,000
Foreign currency translation gain	$ 25,000

Ignoring income taxes, what amount should the company report as comprehensive income as of December 31^st?

A.$90,000

B.$150,000

C.$115,000

D.$125,000

3.Peer Inc. is a publicly-traded enterprise and therefore must disclose information regarding its operating segments. Which of the following should be disclosed for each of Peer's reportable operating segments?

A. Both profit and loss and total assets must be reported.

B. Neither total assets, not profit and loss must be reported.

C. Only profit and loss, but not total assets must be reported.

D. Only total assets, but not profit and loss must be reported.