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The Massoud Consulting Group reported net income of $1,380,000 for its fiscal year ended December 31, 2018. In addition, during the year the company experienced
The Massoud Consulting Group reported net income of $1,380,000 for its fiscal year ended December 31, 2018. In addition, during the year the company experienced a positive foreign currency translation adjustment of $370,000 and had unrealized losses on investment securities of $40,000. The companys effective tax rate on all items affecting comprehensive income is 30%. Each component of other comprehensive income is displayed net of tax. Prepare a separate statement of comprehensive income for 2018.
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