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Problem 3 The Farhat Co. reported net income of $345,000 for year ended Dec 31, 2022. In addition, the company experienced a negative foreign
Problem 3 The Farhat Co. reported net income of $345,000 for year ended Dec 31, 2022. In addition, the company experienced a negative foreign currency translation adjustment of $12,000 and an unrealized gain on debt securities of $16,000. The tax rate is 20% and each component is presented net of tax. Prepare a statement of comprehensive income for the year. Show computations.
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