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  3. sanders inc. reported net income of $ 550,000 for

Sanders Inc. reported net income of $ 550,000 for the year ended December 31, 2020....

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Accounting

Sanders Inc. reported net income of $ 550,000 for the year ended December 31, 2020. The company had a pretax unrealized holding gain on debt securities of $ 14,000 and a pretax loss on foreign currency translation adjustment of $ 40,000. The company's tax rate is 25 %.

  1. Prepare a separate statement of comprehensive income beginning with net income.
  2. Explain comprehensive income.

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