TB MC Qu. 4-86 (Static) Consider the following two separate events...

Consider the following two separate events for a company during the year: 1. Gain on sale of investments = $10. 2. Unrealized gain on investment from increase in fair value = $20. The company reports the unrealized gain as a component of other comprehensive income. By how much would these two events increase net income and comprehensive income, ignoring tax effects?

Multiple Choice

• Net income = $30; Comprehensive income = $20.

• Net income = $10; Comprehensive income = $30.

• Net income = $10; Comprehensive income = $20.

• Net income = $30; Comprehensive income = $30.