Maytag Corporation had a loss on the sale of investments of $210,000. Maytag also had an unrealized gain on investment from an increase in fair value of $140,000.

Maytag reports the unrealized gain as a component of other comprehensive income. By how much would these two events affect net income and comprehensive income, ignoring tax effects?

Multiple Choice

• Net income = $(70,000); Comprehensive income = $140,000.

• Net income = $(210,000); Comprehensive income = $140,000.

• Net income = $0; Comprehensive income = $(70,000).

• Net income = $(210,000); Comprehensive income = $(70,000).

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