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Discuss the comprehensive income

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Question: Norton Co. had the following amounts related to its pension plan in 2014.

Actuarial liability loss for 2014                                                              $28,000

unexpected nasset gain for 2014                                                            18,000

Accumulated other comprehensive income (G/L) (beginning balance)               7,000 cR.

Determine for 2014: (a) Norton's other comprehensive income (loss), and

(b) comprehensive income. Net income for 2014 is $26,000; no amortization of gain or loss is necessary in 2014.

Reference no: EM131592818

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