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 $700 after tax. What is comprehensive income for the current year?

Question

Quizplus · Accepted Answer

Comprehensive income includes net income and other comprehensive income items such as unrealized losses on available-for-sale securities and foreign currency translation losses. Thus, $18,000 - $1,700 - $700 = $15,600.

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