The comparative balance sheets for Wellington Inc. reported the following information at December 31, year 1 and
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Question:
The comparative balance sheets for Wellington Inc. reported the following information at December 31, year 1 and year 2:
| December31 | ||
| Year 2 | Year 1 | |
| Retained earnings | $210,000 | $140,000 |
| Accumulated other comprehensive income | $30,000 | $35,000 |
Wellington declared cash dividends of $20,000 in year 2. The decrease in accumulated other comprehensive income for year 2 was due to unrealized losses on available-for-sale securities. For the year ended December 31, year 2, what was Wellingtons comprehensive income?
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$95,000
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$85,000
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$90,000
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$65,000
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