Schaeffer Corporation reports $90 million accumulated other comprehensive income

Question

Schaeffer Corporation reports $90 million accumulated other comprehensive income in its balance sheet as a component of shareholders’ equity. In a related statement reporting comprehensive income for the year, the company reveals net income of $480 million and other comprehensive income of $23 million.

What was the balance in accumulated other comprehensive income in last year’s balance sheet? (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).)

Schaeffer Corporation reports $90 million accumulated other comprehensive income in its balance sheet as a component of shareholders’ equity. In a related statement reporting comprehensive income for the year, the company reveals net income of $480 million and other comprehensive income of $23 million.

What was the balance in accumulated other comprehensive income in last year’s balance sheet? (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).)

Explanation / Answer

Balance in accumulated other comprehensive income in last year's balance sheet = $90 - $23 = $67 million

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