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Sandhill Co
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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