Problem
Big Dog Corp is developing financial statements for the year ended December 31, 2019. The average tax rate is 30%. The following pre-tax information is available:
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2019
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Revenue
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$420,000
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Expenses
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360,000
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Loss from discontinued operations
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24,000
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Correction of prior years' error (credit)
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22,000
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Unrealized foreign exchange gain on translation of foreign subsidiary (pre tax) $10,000
Assuming all of the above items are subject to the average tax rate of 30%, prepare in proper form, a Statement of Comprehensive Income for the year ended December 31, 2019.