Saddle Corporation reported comprehensive income of $ 14,000 for the cur-rent year. It had unrealized losses on

Question:

Saddle reported comprehensive income of $ 14,000 for the cur-rent year. It had unrealized losses on available- for- sale investment securities of $ 750 after tax, and a foreign currency translation gain of $ 3,500 after tax. The beginning balance of its accumulated other comprehensive income was a debit of $ 2,000.
Required
a. What is other comprehensive income for the current year?
b. What is net income for the current year?
c. What is the ending balance of accumulated other comprehensive income?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...