1. Kensington Corp. reports net income of $280,000 for the year ended December 31, 2020. The company recorded an unrealized loss on available-for-sale debt securities of $15,000 (after tax) for the year ended December 31, 2020 and deferred the loss in AOCI. The company declared dividends of $40,000 for the year and its tax rate is 25%. The December 31, 2019, balance in accumulated other comprehensive income is $18,000 (debit balance) and the balance in retained earnings is $100,000 (credit balance).

   What is the ending balance in accumulated other comprehensive income and retained earnings on December 31, 2020?

   	a.	Accumulated OCI Retained Earnings $18,000 debit $380,000 credit
   	b.	$3,000 debit $380,000 credit
   	c.	$18,000 debit $340,000 credit
   	d.	$33,000 debit $340,000 credit