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AOCI 703 APIC 40,570 Change in foreign currency translation net of tax 566 Change in unrealized...

AOCI 703

APIC 40,570

Change in foreign currency translation net of tax 566

Change in unrealized gain/loss on available for sale investments net (90)

Common Stock 14

Cost of revenue 5,454

Dividends 3,614

General and administrative 2,517

Interest and other income (expense), net 391

Marketing and sales 4,725

Net income attributable to noncontrolling int 14

Provision for income taxes 4,660

Research and development 7,754

Retained Earnings 21,670

Revenue $ 40,653

Weighted average shares used to compute earnings per share attributable to common stockholders: 2,901

Requirement 1 Using the partial trial balance (will not balance) given above, create an income statement, statement of comprehensive income and statement of changes stockholders equity

Requirement 2 Please describe what would change on the statements you prepared if there was an unrealized loss on an available for sale security that was discovered and not included in the trial balance given. Please explain all the changes that will be needed to correct the financial statements prepared.

Expert Solution

ekkarill92 answered 1 month ago

Discuss in detail the conceptual issues related to translation of foreign currency financial statements.

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