Bandana Company had the following balances for net income and pretax gains and losses on December 31: $$\begin{array} { l r }
\text { Net income } & \$ 39,000 \
\text { Loss on discontinued operations } & ( 11,000 ) \
\text { Unrealized gain on trading security } & 20,000 \
\text { Foreign currency translation gain } & 15,000
\end{array}$$ The company's effective tax rate is 40%. What amount should Bandana Company report as comprehensive income for the year ended December 31?
A) $32,400
B) $48,000
C) $44,400
D) $53,400

Question

Bandana Company had the following balances for net income and pretax gains and losses on December 31: $$\begin{array} { l r } 
\text { Net income } & \$ 39,000 \
\text { Loss on discontinued operations } & ( 11,000 ) \
\text { Unrealized gain on trading security } & 20,000 \
\text { Foreign currency translation gain } & 15,000
\end{array}$$ The company's effective tax rate is 40%. What amount should Bandana Company report as comprehensive income for the year ended December 31?
A) $32,400
B) $48,000
C) $44,400
D) $53,400

Quizplus · Accepted Answer

The Answer of Bandana Company had the following balances for net income and pretax gains and losses on December 31: $$\begin{array} { l r } 
\text { Net income } & \$ 39,000 \
\text { Loss on discontinued operations } & ( 11,000 ) \
\text { Unrealized gain on trading security } & 20,000 \
\text { Foreign currency translation gain } & 15,000
\end{array}$$ The company's effective tax rate is 40%. What amount should Bandana Company report as comprehensive income for the year ended December 31?
A) $32,400
B) $48,000
C) $44,400
D) $53,400

Bandana Company Had the Following Balances for Net Income and Pretax