The Brankov Tool and Die Company reports the following for the fiscal year ended December 31, 2018:
Net income $1,430,000
Foreign-Currency Transaction Loss, net of tax ($44,000 )
Foreign-Currency Translation Loss, net of tax ($28,000 )
Unrealized Loss on Investment in Trading Securities, net of tax ($12,000 )
Unrealized Loss on Investment in Available-for-Sale Securities, net of tax ($51,500 )
What is comprehensive income for the year ended December 31, 2018?
A) $1,346,000
B) $1,306,500
C) $1,350,500
D) $1,358,000
C
Explanation: C) Net income $1,430,000 - Foreign Currency Translation Loss $28,000 - Unrealized Loss on Investment in Available-for-Sale Securities $51,500 = $1,350,500
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