Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following is from the 2021 annual report of Kaufman Chemicals, Inc.: Statements of comprehensive Income Years Ended December 31 2021 2020 2019 $856 $766

image text in transcribed
image text in transcribed
The following is from the 2021 annual report of Kaufman Chemicals, Inc.: Statements of comprehensive Income Years Ended December 31 2021 2020 2019 $856 $766 $594 Net income Other comprehensive income: Change in net unrealized gains on APS investments, net of tax of $22, ($14), and $15 in 2021, 2020, and 2019, respectively Other Total comprehensive income 34 eBook (21) (11) $744 $618 Hint Print Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equity ferences ($ in millions) 2021 2020 Shareholders' equity Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive income Total shareholders' equity 355 8,567 6.544 107 $15,573 355 8.567 5,988 $14.985 Required: 4. From the information provided, determine how Kaufman calculated the $107 million accumulated other comprehensive i 2021. (Negative amount should be indicated by a minus sign. Enter your answers in millions (i... 10.000.000 should be 10).) (5 in millions Accumulated other com hensive in Required: 4. From the information provided, determine how Kaufman calculated the $107 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).) Print in millions) Accumulated other comprehensive income, 2020 Accumulated other comprehensive income, 2021 $ 0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting IFRS Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

2nd Edition

1118443969, 978-1118443965

More Books

Students also viewed these Accounting questions