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Brief Exercise 17-9 The following information relates to Splish Co. for the year ended December 31,...

Brief Exercise 17-9 The following information relates to Splish Co. for the year ended December 31, 2017: net income 1,159 million; unrealized holding loss of $10.9 million related to available-for-sale debt securities during the year; accumulated other comprehensive income of $57 million on December 31, 2016. Assuming no other changes in accumulated other comprehensive income. Determine (a) other comprehensive income for 2017, (b) comprehensive income for 2017, and (c) accumulated other comprehensive income at December 31, 2017. (Enter answers in millions to 1 decimal place, e.g. 25.5. Enter loss using either a negative sign preceding the number e.g. -45.2 or parentheses e.g. (45.2).) (a) Other comprehensive income(loss) for 2017 $ million (b) Comprehensive income for 2017 $ million (c) Accumulated other comprehensive income $ million Click if you would like to Show Work for this question: Open Show Work

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Answer #1

*Net income of 2017 less unrealized loss for 2017 is the Comprehensive income for that year.

**Unrealized holding loss comes under "Other comprehensive loss" that's why 10.9 million it is given in brackets  

***When it comes to Accumulated OTHER comprehensive income,since it is accumulated,the previous years' accumulated other comprehensive income needs to be adjusted with current year's other comprehensive loss. That's why $10.9 million is deducted from $57 million to get 46.10 million [Accumulated other comprehensive income for 2017  

There is no intense calculations or much workings required for this question Answers are within the question itself However if you are having any doubts let me know by commenting  

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