Reporting Comprehensive Income, Retained Earnings, Accumulated OCI

The following excerpts are from the annual financial statements of KPNG, Inc.

KPNG, Inc. Statement of Comprehensive Income For Year Ended December 31, Current Year
Net Income	$80,000
Other comprehensive income, net of tax
Net unrealized holding loss on available-for-sale securities	(9,600)
Gain on pension benefit plan	960
Other comprehensive loss	(8,640)
Comprehensive income	$71,360

KPNG, Inc. Stockholders Equity Section
As of December 31	Current Year	Prior Year
Common stock	$800	$800
Paid-in capital in excess of par	240,000	240,000
Retained earnings	200,000	120,000
Accumulated other comprehensive income (loss)	(6,240)	2,400
Total stockholders equity	$434,560	$363,200

Required NOTE: Use a negative sign with any answer that is a loss.

a. What is comprehensive income (loss) for the current year ended December 31?

Answer

What is the accumulated other comprehensive income (loss) as of December 31 of the current year?

Answer

b. Prepare a reconciliation of retained earnings from December 31 of the prior year to December 31 of the current year assuming that no dividends were declared in the current year.

Retained earnings, December 31, Prior Year	Answer
Net income (loss)	Answer
Retained earnings, December 31, Current Year	Answer

c. Prepare a reconciliation of accumulated other comprehensive income (loss) from December 31 of the prior year to December 31 of the current year.

Accumulated other comprehensive income (loss), December 31, Prior Year	Answer
Other comprehensive income (loss)	Answer
Accumulated other comprehensive income (loss), December 31, Current Year	Answer