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Please answer clearly and organaizlly based on the table Determining the Balance in Accumulated OCI Fastco Corp. reports net income of $36,000, and other comprehensive
Please answer clearly and organaizlly based on the table
Determining the Balance in Accumulated OCI Fastco Corp. reports net income of $36,000, and other comprehensive income of $9,000 (net of tax) for the current year ended December 31. The prior year December 31 balance in accumulated other comprehensive income is $32,400 (credit balance) and the balance in retained earnings is $180,000 (credit balance). What is the ending balance in accumulated other comprehensive income on December 31 of the current year? Note: Do not use a negative sign with your Step by Step Solution
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