Price Co. reported net income of $18,000 for the current year. It had unrealized losses on available-for-sale debt securities of $1,700 after tax, and a foreign currency translation loss of $1,000 after tax. What is comprehensive income for the current year?

Question

Quizplus · Accepted Answer

Comprehensive income includes net income and other comprehensive income (OCI) items. Here, OCI includes unrealized losses on available-for-sale securities ($1,700) and foreign currency translation loss ($1,000). Thus, comprehensive income = $18,000 - $1,700 - $1,000 = $15,300.

Price Co Reported Net Income of $18,000 for the Current Year