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Compute comprehensive income

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Question - In the shareholders' equity section of its 2018 and 2019 balance sheets, H&R Block reported accumulated other comprehensive income balances of $(14.3) million and $(20.4) million, respectively. The 2019 income statement reported net income of $423 million. During 2019, the company reported one item of other comprehensive income: a $6.1 million loss on foreign currency translations.

Required -

a. Compute comprehensive income for 2019.

b. Describe how these activities are reflected on H&R Block's balance sheet, income statement, and statement of shareholders' equity.

Reference no: EM133171826

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