The following is from the 2024 annual report of Kaufman Chemicals, Inc. Kaufman reports accumulated other comprehensive
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The following is from the 2024 annual report of Kaufman Chemicals, Inc.
Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders’ equity as follows:
Required:
1. What is comprehensive income and how does it differ from net income?
2. How is comprehensive income reported in a balance sheet?
3. From the information provided, determine how Kaufman calculated the $107 million accumulated other comprehensive income in 2024.
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