Svedin Incorporated provides the following information relating to 2013: Net income . . . . . .

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Svedin Incorporated provides the following information relating to 2013:
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $14,200
Unrealized losses on available-for-sale securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,285
Foreign currency translation adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 287
Deferred loss on derivatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 315
The foreign currency adjustment resulted from a weakening in the currencies of Svedin's foreign subsidiaries relative to the U.S. dollar. The deferred loss on derivatives required the recognition of a liability with a resulting decrease in equity. (These items represent the results of events occurring during 2013, not the cumulative result of events in prior years.)
1. Determine the effect that each of these items would have when computing comprehensive income for 2013. Explain your rationale.
2. Prepare a statement of comprehensive income for Svedin Incorporated for 2013?
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Intermediate Accounting

ISBN: 978-0538479738

18th edition

Authors: Earl K. Stice, James D. Stice

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