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

Question

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

Determine for 2017: (a) Grouper’s other comprehensive income (loss), and (b) comprehensive income. Net income for 2017 is $25,300; 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).)

Actuarial liability loss for 2017 $29,600 Unexpected asset gain for 2017 18,300 Accumulated other comprehensive income (G/L) (beginning balance) 6,500 Cr.

Explanation / Answer

(a) Other Comprehensive Loss for 2017 is as follows:   

(b) The computation of comprehensive income for 2017 is as follows:   

Actuarial liability loss ($29,600) Unexpected asset gain $18,300 Other comprehensive loss ($11,300)

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