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Exercise 4-11 (Algo) Comprehensive income [LO4-6] The Massoud Consulting Group reported net income of $1,380,000...

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Exercise 4-11 (Algo) Comprehensive income [LO4-6] The Massoud Consulting Group reported net income of $1,380,000 for its fiscal year ended December 31, 2021. In addition, during the year the company experienced a positive foreign currency translation adjustment of $370,000 and an unrealized loss on debt securities of $40,000. The company's effective tax rate on all items affecting comprehensive income is 25%. Each component of other comprehensive income is displayed net of tax. Required: Prepare a separate statement of comprehensive income for 2021. (Amount to be deducted should be indicated with a minus sign.) THE MASSOUD CONSULTING GROUP Statement of Comprehensive Income For the Year Ended December 31, 2021 Net income Other comprehensive income, net of tax: Foreign currency translation adjustment Loss on debt securities Total other comprehensive income Comprehensive income

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