Big-Box Retail Corporation reported shareholders' equity on its balance sheet at December 31, 2017, as follows:
Big-Box Retail Corporation
Balance Sheet (Partial)
December 31, 2017
________________________________________________________________Million
Shareholders' Equity:
Common shares, $0.10
800 million shares authorized, 300 million shares issued................................... $1,113
Retained earnings.................................................................................................. 6,250
Accumulated other comprehensive income (loss)..................................................... (?)
Requirements
1. What one component that was discussed in this chapter is included in accumulated other comprehensive income?
2. For the component of accumulated other comprehensive income, describe the event that can cause a positive balance. Also describe the event that can cause a negative balance for each component.
3. At December 31, 2016, Big-Box's accumulated other comprehensive loss was $53 million. Then, during 2017, Big-Box had an unrealized loss of $16 million on non-strategic investments. Assume Big-Box chooses to record any changes in fair value through other comprehensive income. What was Big-Box's balance of accumulated other comprehensive income (loss) at December 31, 2017?