Question

The following information relates to Concord Co. for the year ended December 31, 2017: net income 1,231 million; unrealized holding loss of $11.1 million related to available-for-sale debt securities during the year; accumulated other comprehensive income of $62 million on December 31, 2016. Assuming no other changes in accumulated other comprehensive income.

Determine (a) other comprehensive income for 2017, (b) comprehensive income for 2017, and (c) accumulated other comprehensive income at December 31, 2017. (Enter answers in millions to 1 decimal place, e.g. 25.5. Enter loss using either a negative sign preceding the number e.g. -45.2 or parentheses e.g. (45.2).)

(a)		Other comprehensive income(loss) for 2017		$enter your answer in millions of dollars rounded to 1 decimal place	million
(b)		Comprehensive income for 2017		$enter your answer in millions of dollars rounded to 1 decimal place	million
(c)		Accumulated other comprehensive income		$enter your answer in millions of dollars rounded to 1 decimal place	million

Answer 1

Answer

Answer a.

Other Comprehensive Income ( Loss) For 2017.

$(11.10) Million (Unrealized Holding Loss)

Answer b.

comprehensive income for 2017.

$1,231 million (Net Income) - $11.10 Million (Unrealized Holding Loss)

$1,219.9 million

Answer c.

accumulated other comprehensive income at December 31, 2017.

$62 million - $11.10 million

$50.90 million

Please like