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The following is from the 2021 annual report of Kaufman Chemicals, Inc.: Statements of Comprehensive Income Years Ended December 31 2021 2020 2019 Net income
The following is from the 2021 annual report of Kaufman Chemicals, Inc.:
Statements of Comprehensive Income | Years Ended December 31 | ||||||||||
2021 | 2020 | 2019 | |||||||||
Net income | $ | 955 | $ | 785 | $ | 640 | |||||
Other comprehensive income: | |||||||||||
Change in net unrealized gains on AFS investments, net of tax of $28, ($16), and $25 in 2021, 2020, and 2019, respectively | 38 | (26 | ) | 32 | |||||||
Other | (2 | ) | (2 | ) | 1 | ||||||
Total comprehensive income | $ | 991 | $ | 757 | $ | 673 | |||||
Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equity as follows:
($ in millions) | ||||||
2021 | 2020 | |||||
Shareholders equity: | ||||||
Common stock | 380 | 380 | ||||
Additional paid-in capital | 9,080 | 9,080 | ||||
Retained earnings | 8,160 | 7,604 | ||||
Accumulated other comprehensive income | 126 | 90 | ||||
Total shareholders equity | $ | 17,746 | $ | 17,154 | ||
Required: 4. From the information provided, determine how Kaufman calculated the $126 million accumulated other comprehensive income in 2021. (Negative amount should be indicated by a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
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