Seattle,Inc.owns an 80 percent interest in a Portuguese subsidiary.For 2008,Seattle reported income from operations of $2.0 million.The Portuguese company's income from operations,after foreign currency translation,was $1.1 million.The foreign currency translation adjustment was $120,000 (credit).Consolidated net income and consolidated comprehensive income for the year are:
A)Option A
B)Option B
C)Option C
D)Option D

Question

Quizplus · Accepted Answer

The Answer of Seattle,Inc.owns an 80 percent interest in a Portuguese subsidiary.For 2008,Seattle reported income from operations of $2.0 million.The Portuguese company's income from operations,after foreign currency translation,was $1.1 million.The foreign currency translation adjustment was $120,000 (credit).Consolidated net income and consolidated comprehensive income for the year are:
A)Option A
B)Option B
C)Option C
D)Option D