Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Check Years Ended December 31 2021 2020 2019 $856 $686 $541 Statements of Comprehensive Income Net income Other comprehensive income: Change in net unrealized gains

image text in transcribed

Check Years Ended December 31 2021 2020 2019 $856 $686 $541 Statements of Comprehensive Income Net income Other comprehensive income: Change in net unrealized gains on AFS investments, net of tax of $18, ($16), and $16 in 2021, 2020, and 2019, respectively Other Total comprehensive income 30 (3) $883 3 (24) (2) $660 26 2 $569 Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equity as follows: ($ in millions) 2021 2020 s Shareholders' equity: Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive income Total shareholders' equity 330 8,171 7,251 99 $15, 851 330 8,171 6,695 72 $15,268 Required: 4. From the information provided, determine how Kaufman calculated the $99 million accumulated other comprehensive income in 2021. (Negative amount should be indicated by a minus sign. Enter your answers in millions (.e., 10,000,000 should be entered as 10).) ($ in millions) Accumulated other comprehensive income, 2020 Accumulated other comprehensive income, 2021

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions