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Steffan Company has the following balance in Shareholder equity accounts at the end of Year3: Shareholder equity section of balance sheet at 12/31/Year3 $1,000,000 Common
Steffan Company has the following balance in Shareholder equity accounts at the end of Year3: Shareholder equity section of balance sheet at 12/31/Year3 $1,000,000 Common stock Retained earnings $138060 |Accumulated other comprehensive income $2050 Total shareholder equity $1140110 During Year 4, Steffan Company has net income of $147000 declares and pays dividends of $18000 records an unrealized loss of $2000. The loss is an OCI item. 1. What is Comprehensive Income for Year4? 2. What is the balance in these equity accounts on the balance sheet at 12/31/Year4? -Retained earnings --Accumulated other comprehensive income -Total shareholder equity
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