Sun Company has an after-tax net income of $20,000, and the income tax rate is 35%. During the year, Sun Company records a $5,000 unrealized gain on its available-for-sale securities. What is Sun Company's comprehensive income for the year?
Sun Company has an after-tax net income of $20,000, and the income tax rate is 35%. During the year, Sun Company records a $5,000 unrealized gain on its available-for-sale securities. What is Sun Company's comprehensive income for the year?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter9: Current Liabilities And Contingent Obligations
Section: Chapter Questions
Problem 11GI
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Sun Company has an after-tax net income of $20,000, and the income tax rate is 35%. During the year, Sun Company records a $5,000 unrealized gain on its available-for-sale securities. What is Sun Company's comprehensive income for the year?
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