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Crabb Corp. invested $50K in a corporate bond during 20Y1. The bond's fair value on December 31, 20Y1 was $44K. Crabb is still holding the
Crabb Corp. invested $50K in a corporate bond during 20Y1. The bond's fair value on December 31, 20Y1 was $44K. Crabb is still holding the bond on December 31, 20Y2, when it's fair value is $46K. Crabb Corp started business during 20Y1 and reported $1,500K of net income in both 20Y1 and 20Y2.
Which of the following statements is true?
In 20Y2, Crabb Corp reports an ending balance of $(4)K in Accumulated Other Comprehensive Income.
In 20Y2, Crabb Corp reports Comprehensive Income of $2K.
In 20Y2, Crabb Corp reports Net Income of $1,496K.
In 20Y2, Crabb Corp reports Other Comprehensive Income of $1,502K.
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