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Use the following information to answer the next 3 questions. ABC has beginning-of-year balances of: PBO, $330,000; Plan Assets, $310,000; and Net Loss AOCI, $55,000.
Use the following information to answer the next 3 questions. | ||
ABC has beginning-of-year balances of: PBO, $330,000; Plan Assets, $310,000; and Net Loss AOCI, $55,000. During the year, ABC recorded a loss on Plan Assets of $8,820 and a gain on the PBO of $11,000. Net income for the year is $77,000. Assume no amortization of the net gain/loss in AOCI is needed. | ||
14. | Other comprehensive income is ____. | |
15. | Comprehensive income is ____. | |
16. | The end-of-year balance in Net Loss AOCI is ____. |
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