Question
On January 1, 2021, Gabby Inc. had a credit balance in the Accumulated Other Comprehensive Income ( AOCI ) of $ 25,690. On February 28,
On January 1, 2021, Gabby Inc. had a credit balance in the Accumulated Other Comprehensive Income (" AOCI ") of $ 25,690. On February 28, 2021, Gabby Inc. purchased 1,000 shares of Emilia Inc. for $ 90 plus $ 2,500 in brokrage commission, which were capitalized. Gabby Inc. correctly classified this investment as FV - OCI without recycling. On September 20, 2021, Gabby Inc. sold half of the shares for $ 92 each. On December 31, 2021, Emilia Inc. shares traded at $ 82. In 2021, Gabby Inc. reported net income of $ 24,501. The amount that Gabby Inc. would report in its AOCI account at December 31, 2021 is:
a. $ 36,190
b. $ 20,440
c. $ 30,940
d. $ 32,190
e. $ 29,751
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