Schaeffer Corporation reports $50 million accumulated other comprehensive income in its balance sheet as a component of

Question:

Schaeffer reports $50 million accumulated other comprehensive income in its as a component of shareholders' equity. In a related disclosure note reporting comprehensive income for the year, the company reveals net income of $400 million and other comprehensive income of $15 million. What was the balance in accumulated other comprehensive income in last year's Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... 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...