Sandhill Co

Accounting Dec 13, 2020

Sandhill Co. had the following amounts related to its pension plan in 2017.

Actuarial liability loss for 2017$30,400Unexpected asset gain for 201717,500Accumulated other comprehensive income (G/L) (beginning balance)6,600 Cr.

Determine for 2017: (a) Sandhill's other comprehensive income (loss), and (b) comprehensive income. Net income for 2017 is $24,100; no amortization of gain or loss is necessary in 2017. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

(a)Other comprehensive income (loss)$

(b)Comprehensive income (loss)$

Expert Solution

a.)

Actuarial Liability Loss = (30400)

Less : Unexpected Asset gain = 17,500

Other comprehensive Loss = -12900

b.)

Net Income = $24,100

Less: Other comprehensive loss = -12900

Comprehensive income for 2017 = 11200

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