Manitoba Company had a net income of ($ 856,000) and other comprehensive income of ($ 123,500) for

Question:

Manitoba Company had a net income of $\$ 856,000$ and other comprehensive income of $\$ 123,500$ for 2008 . On January 1, 2008, the Retained Earnings balance was $\$ 3,460,000$, and the Accumulated Other Comprehensive Income balance was $\$ 624,000$. Determine the

(a) comprehensive income for 2008,

(b) Retained Earnings balance on December 31, 2008, and

(c) Accumulated Other Comprehensive Income balance on December 31, 2008.

obj. 5

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