The following information relates to S'water Inc for the year ended December 31st, 2018 $550,000 Income from operations before tax) Unrealized (loss)/gain on FV-NI Investments $40,000 (Loss) gain on disposal of equipment Gain on sale of FV-NI Investments Income Tax Expense ($50,000) $60,000 $12,000 Dividends Declared (Not Paid) $3,000 $780,000 Account Balances on January 1st, 2018: Retained Earnings Accumulated Other Comprehensive Income (due to gains on FV-OCI Investments) $10,000 Other important information: 1. On December 18, 2016 S'water purchased a portfolio of investments and classified them correctly as FV-OCI Investments. Any unrealized gains/loss are recorded as OCI and then books the gains or losses to net income when the investments are sold. The portfolio was valued on December 31st, 2017 at $220,000. The entire portfolio of investments was sold on November 1st, 2018 for $190,000. Required: 1. Calculate the Net Income for the year ended December 31, 2018 2. Calculate the retained Earnings at December 31st, 2018 3. What is the balance is the Accumulated Other Comprehensive Income account at December 31st, 2018