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Uko Inc. has the following balances in Shareholders Equity Accounts at the end of Year 3 : Common stock $300,000 Retained earnings $ 42,000 Accumulated
Uko Inc. has the following balances in Shareholders Equity Accounts at the end of Year 3:
Common stock | $300,000 |
Retained earnings | $ 42,000 |
Accumulated other comprehensive income (AOCI) | $ 7,000 |
During Year 4, Uko reported Net income of $36,000. They also reported other comprehensive income of $6,500. Uko paid dividends of $1,200 to shareholders for Year4.
1. What will Uko report as AOCI (Accumulated other comprehensive income) as of 12/31/Year4 on the balance sheet? Blank 1
2. What will Uko report as Retained earnings as of 12/31/Year4 on the balance sheet? Blank 2
Do not use $ signs or any punctuation in your answers, please.
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