Question: For the year ended December 31, 2018, Transformers Inc. reported the following: Net income $180,000 Preferred dividends declared 30,000 Common dividend declared 6,000 Unrealized holding

For the year ended December 31, 2018, Transformers Inc. reported the following:

Net income $180,000

Preferred dividends declared 30,000

Common dividend declared 6,000

Unrealized holding loss on available-for-sale securities, net of tax 3,000

Retained earnings, beginning balance 240,000

Common stock 120,000

Accumulated Other Comprehensive Income,

Beginning Balance 15,000 The balance of Accumulated Other Comprehensive Income that is reported on the balance sheet on December 31, 2018:

Select one: a. $192,000 b. $12,000 c. $18,000 d. None of the available choices

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