Comprehensive Income The following information relates to Loveland Company:

In addition, the following events occurred during the year:

a. Loveland Company has an investment portfolio for long-term investment purposes. That portfolio decreased in value by $9,000 during the year.

b. Loveland Company owns a substantial amount of land. During the year, the land increased in value by $34,000.

c. Loveland Company has several foreign subsidiaries. The currencies in the countries where those subsidiaries are located declined in value (relative to the U.S. dollar) during the year. Accordingly, the computed value of the equity of those subsidiaries, in U.S. dollars, decreased by $3,700.
Required:
1. Compute Loveland’s comprehensive income for the year.
2. Interpretive Question: Is comprehensive income a good measure of the change in a company’s value during the year?

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Sales Cost of goods sold Other operating expenses Interest expense Income tax expense $60,000 36,000 8,000 500 5,400