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What was other comprehensive income during year

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Question - Steckly Company had the following balances on its balance sheet at Beginning of Year 2. Both are positive equity account balances.

Retained earnings $42,000

Accumulated other comprehensive income $4,000

For Year 2 Steckly reported net income of $23,000. They also reported Comprehensive income of $26,500. No dividends were declared or paid.

Required -

1: What was "Other Comprehensive income" during Year 2?

2: What will be the balance in Retained earnings on the Year 2 balance sheet?

3: What will be the balance in Accumulated other comprehensive income on the Year 2 balance sheet?

Reference no: EM132641157

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