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Atlantic Beverage Company reported net income of $700,000 for 2024. In addition, the company deferred a $70,000 pretax loss on derivatives and had pretax
Atlantic Beverage Company reported net income of $700,000 for 2024. In addition, the company deferred a $70,000 pretax loss on derivatives and had pretax net unrealized gains on debt securities of $35,000. Prepare a separate statement of comprehensive income for 2024. The company's income tax rate is 25%. Note: Amounts to be deducted should be indicated with a minus sign. Net income ATLANTIC BEVERAGE COMPANY Statement of Comprehensive Income For the Year Ended December 31, 2024 Other comprehensive income, net of tax: Total other comprehensive income (loss)
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