Exercise 2. Statement of Comprehensive Income

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 companys 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.