Question

In the shareholders’ equity section of its 2011 and 2012 balance sheets, H&R Block reported accumulated other comprehensive income balances of $2.658 billion and $2.524 billion, respectively. The 2012 income statement reported net income of $266 million. During 2012 the net holding gain for the available-for-sale securities held by H&R Block was $3.1 million, and the company incurred a $2.2 million loss on foreign currency translations. Neither item affected earnings, but both reduced shareholders’ equity.
a. Compute comprehensive income for 2012.
b. Describe how these activities are reflected on H&R Block’s balance sheet, income statement, and statement of shareholders’ equity.



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  • CreatedAugust 19, 2014
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