The following information for Gaffney Corporation covers the year ended December 31, 2000:

GAFFNEY CORPORATION Income Statement For the Year Ended December 31, 2000 Revenue:

Revenues from sales $450,000 Other 5,000 Total revenue 455,000 Expenses:

Cost of products sold $280,000 Selling expenses 50,000 Administrative and general expenses 20,000 Federal and state income taxes 30,000 Total expenses 380,000 Net income 75,000 Other comprehensive income Available-for-sale securities adjustment, net of $5,000 income tax $ 7,000 Foreign currency translation adjustment, net of $3,000 income tax 8,000 Other comprehensive income 15,000 Comprehensive income $ 90,000 Required a.Will net income or comprehensive income tend to be more volatile?

Comment.

b.Which income figure will be used to compute earnings per share?

c.What is the total tax expense reported?

d.Will the items within other comprehensive income always net out as an addition to net income? Comment.