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Chili Co. had the following balances at December​ 31: Foreign currency translation gain ​$ 150,000 Unrealized...

Chili Co. had the following balances at December​ 31: Foreign currency translation gain ​$ 150,000 Unrealized loss on trading security ​ (35,000) Net income ​650,000 Loss on discontinued operations ​(75,000) The​ company's effective tax rate is​ 40%. What amount should Chili Co. report as comprehensive income for the year ended December​ 31?

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Answer #1

Calculate comprehensive income

Net income 650000
Other comprehensive income
Add: Foreign currency translation gain (150000*60%) 90000
Comprehensive income 740000
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