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For the year ended December 31, 2018, Transformers Inc. reported the following:
Net income $180,000
Preferred dividends declared 30,000
Common dividend declared 6,000
Unrealized holding loss on available-for-sale securities, net of tax 3,000
Retained earnings, beginning balance 240,000
Common stock 120,000
Accumulated Other Comprehensive Income,
Beginning Balance 15,000
The balance of Accumulated Other Comprehensive Income that is reported on the balance sheet on December 31, 2018:
Select one:
a. None of the available choices
b. $192,000
c. $12,000
d. $18,000
Answer & Explanation
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