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Arigato LLC had the following balances for net income and pretax gains and losses on June...

Arigato LLC had the following balances for net income and pretax gains and losses on June 30:

    Net income

$ 39

    Loss on discontinued operations

(11)

    Unrealized gain on trading security

20

    Foreign currency translation gain

15

The company's effective tax rate is 40%.

What amount should Arigato LLC report as comprehensive income for the year ended June 30? $  Blank 1. Fill in the blank, read surrounding text.

business   accounting   
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Answer #1

Solution:

comprehensive income = Net Income + Foreign currency translation gain net of Tax

= $39 + (15*60%)

= 39 + 9

= $48

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