The income statement data for the year ended December 31, 1997, of Bentley Brothers follows. Operating revenues $35,000 Operating expenses 20,000 Net operating income $15,000 Loss on sale of short-term investments 3,000 Net income from continuing operations before tax $12,000 Less: Income tax 3,840 Net income from continuing operations $ 8,160 Extraordinary gain (net of tax) 6,000 Net income before change in accounting principle $ 14,160 Income effect due to change in accounting principle (net of tax) 8,000 Net income $22,160 670 Part 5 Income and Cash Flows During 1997 Bentley issued common stock for $25,000. The company also declared and paid a $9,000 dividend. The book value of the company on January 1, 1997, was $35,000. REQUIRED:

a. Compute the book value of Bentley Brothers as of December 31, 1997 and calculate com¬ prehensive income.

b. Which of the income measures on the income statement is equal to comprehensive income? Discuss how that and the other measures may be useful