A corporation is developing financial statements for the year ended December 31, 2010. The average income tax rate is 30 percent. The following pre-tax data are available: Unrealized foreign exchange gain on translation of foreign subsidiary (net of tax) $10,000
Required:
Assuming all of the above items are subject to the average tax rate of 30%, prepare a statement of Comprehensive Income for the year ended December 31, 2010.
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