Seattle, Inc. owns an 80 percent interest in a Portuguese subsidiary. For 20X8, Seattle reported

income from operations of $2.0 million. The Portuguese company's income from operations, after

foreign currency translation, was $1.1 million. The foreign currency translation adjustment was

$120,000 (credit). Consolidated net income and consolidated comprehensive income for the year are:

Consolidated Net

Income Consolidated Comprehensive Income

A) $ 3,100,000 $ 3,196,000

B) $ 2,980,000 $ 3,076,000

C) $ 3,004,000 $ 3,100,000

D) $ 2,880,000 $ 2,976,000

Answer rating: 100% (QA)

Answer is D EXPLANATION this is simple Consoidated net income ... View the full answer