2. Other Comprehensive Income Items Your company, Flancrest Enterprises, sells merchandise around the world. As a result, the company often incurs foreign currency translation adjustments. Flancrest's current practice is to report these adjustments separately from net income in a statement of comprehensive income and to accumulate the resulting effects on shareholders' equity within the company's retained earnings balance. Is the practice of combining other comprehensive income items with retained earnings appropriate under US. GAAP? Research the appropriate Codication and draft a letter to Flancrest's CEO explaining your response and cite your SOllI'CCS