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The Massoud Consulting Group reported net income of $1,378,000 for its fiscal year ended December 31, 2016. In addition, during the year the company experienced
The Massoud Consulting Group reported net income of $1,378,000 for its fiscal year ended December 31, 2016. In addition, during the year the company experienced a foreign currency translation adjustment gain of $360,000 and had unrealized losses on investment securities of $95,000. The companys effective tax rate on all items affecting comprehensive income is 40%. Each component of other comprehensive income is displayed net of tax.
Prepare a separate statement of comprehensive income for 2016. |
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