Question: TB MC Qu. 4-86 (Static) Consider the following two separate events... Consider the following two separate events for a company during the year: 1. Gain

TB MC Qu. 4-86 (Static) Consider the following two separate events...

Consider the following two separate events for a company during the year: 1. Gain on sale of investments = $10. 2. Unrealized gain on investment from increase in fair value = $20. The company reports the unrealized gain as a component of other comprehensive income. By how much would these two events increase net income and comprehensive income, ignoring tax effects?

Multiple Choice

Net income = $30; Comprehensive income = $20.
Net income = $10; Comprehensive income = $30.
Net income = $10; Comprehensive income = $20.
Net income = $30; Comprehensive income = $30.

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