Chapter 4 The Income Statement and Statement of Cash Flows32

Chapter 4 The Income Statement and Statement of Cash Flows32

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Exercise 4-13 Requirement 1 THE MASSOUD CONSULTING GROUP Statement of Income and Comprehensive Income (in part) For the Year Ended December 31, 2011 Net income . ......................................................... $1,354,000 Other comprehensive income (loss): Foreign currency translation gain, net of tax . .. $168,000 Unrealized losses on investment securities, net of tax . ....................................................... (56,000 ) Total other comprehensive income . .................... 112,000 Comprehensive income . ...................................... $1,466,000 Requirement 2
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Unformatted text preview: THE MASSOUD CONSULTING GROUP Statement of Comprehensive Income For the Year Ended December 31, 2011 Net income . ......................................................... $1,354,000 Other comprehensive income (loss): Foreign currency translation gain, net of tax . .. $168,000 Unrealized losses on investment securities net of tax . ....................................................... (56,000 ) Total other comprehensive income . .................... 112,000 Comprehensive income . ...................................... $1,466,000...
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