Zorba Company had a net income of ($ 104,000) and other comprehensive income of ($ 13,400) for

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Zorba Company had a net income of \(\$ 104,000\) and other comprehensive income of \(\$ 13,400\) for 2008. On January 1, 2008, the Retained Earnings balance was \(\$ 565,000\), and the Accumulated Other Comprehensive Income balance was \(\$ 71,000\). 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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Financial Accounting

ISBN: 9780324380675

10th Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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