completion Return to question 25 1 points 012738 Exercise 4-11 (Static) Comprehensive income (LO4-6] The Massoud...

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completion Return to question 25 1 points 012738 Exercise 4-11 (Static) Comprehensive income (LO4-6] The Massoud Consulting Group reported net income of $1,354,000 for its fiscal year ended December 31, 2024. In addition, during the year the company experienced a positive foreign currency translation adjustment of $240,000 and an unrealized loss on debt securities of $80,000. The company's effective tax rate on all items affecting comprehensive income is 25%. Each component of other comprehensive income is displayed net of tax. Required: Prepare a separate statement of comprehensive income for 2024. Note: Amounts to be deducted should be indicated with a minus sign. Net income Answer is not complete. THE MASSOUD CONSULTING GROUP Statement of Comprehensive Income For the Year Ended December 31, 2024 Other comprehensive income, net of tax: Foreign currency translation adjustment Loss on debt securities Total other comprehensive income Comprehensive income $ 710,000 $710,007 Me Graw Prev 1 of 4 Next> completion Return to question 25 1 points 012738 Exercise 4-11 (Static) Comprehensive income (LO4-6] The Massoud Consulting Group reported net income of $1,354,000 for its fiscal year ended December 31, 2024. In addition, during the year the company experienced a positive foreign currency translation adjustment of $240,000 and an unrealized loss on debt securities of $80,000. The company's effective tax rate on all items affecting comprehensive income is 25%. Each component of other comprehensive income is displayed net of tax. Required: Prepare a separate statement of comprehensive income for 2024. Note: Amounts to be deducted should be indicated with a minus sign. Net income Answer is not complete. THE MASSOUD CONSULTING GROUP Statement of Comprehensive Income For the Year Ended December 31, 2024 Other comprehensive income, net of tax: Foreign currency translation adjustment Loss on debt securities Total other comprehensive income Comprehensive income $ 710,000 $710,007 Me Graw Prev 1 of 4 Next>