Nguyen Imports, Inc. opened on July 1, 2019, with $250,000 from the sale of common stock. The company reported $622,000 in net income for the year ended June 30, 2020, (its first year of operations). On June 1, 2020, a $10,000 dividend was declared. (The dividend was paid on July 1.) Nguyen reported a $5,000 foreign currency translation adjustment loss for the year. The companys tax rate was 25%. What was the balance in Accumulated Other Comprehensive Income on June 30, 2020?

Select one:

a. $3,750

b. $(5,000)

c. $(3,750)

d. $5,000

e. $0