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Business, 22.10.2020 03:01 Meliiiii

Minor, Inc., had revenue of $577,000 and expenses (other than income taxes) of $277,000 for the current year. The company is subject to a 35 percent income tax rate. In addition, Minor had a gain from foreign currency translation of $1,700 before income taxes during the year. a. Determine the amount of Minor's net income for the year.
b. Determine the total amount of Minorā€™s comprehensive income for the year.
c. How would your answers to parts a and b differ if the foreign currency translation had been a loss of $3,300 before income taxes?

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Minor, Inc., had revenue of $577,000 and expenses (other than income taxes) of $277,000 for the curr...
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