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What was wellington comprehensive income

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Reference no: EM132019913

Question - The comparative balance sheets for Wellington Inc. reported the following information at December 31, year 1 and year 2:

December 31

Year 2

Year 1

Retained earnings

$210,000

$140,000

Accumulated other comprehensive income

$30,000

$35,000

Wellington declared cash dividends of $20,000 in year 2. The decrease in accumulated other comprehensive income for year 2 was due to unrealized losses on available-for-sale securities. For the year ended December 31, year 2, what was Wellington's comprehensive income?

$95,000

$85,000

$90,000

$65,000

Reference no: EM132019913

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