Neddle Corporation reported net income of $ 176,000 for the current year. It had unrealized gains on

Question:

Neddle reported net income of $ 176,000 for the current year. It had unrealized gains on available- for- sale investment securities of $ 5,000 after tax and a foreign currency translation loss of $ 8,000 after tax. The beginning balance of its accumulated other comprehensive income was a credit of $ 100.
Required
a. What is other comprehensive income for the current year?
b. What is comprehensive income for the current year?
c. What is the ending balance of accumulated other comprehensive income?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...