Determine for 2012: (a) Norton’s other comprehensive income (loss), and (b) comprehensive income…. 1 answer below »

Norton Co. had the following amounts related to its pension plan in 2012.

Actuarial liability loss for 2012

$28,000

Unexpected asset gain for 2012

18,000

Accumulated other comprehensive income (G/L) (beginning balance)

7,000 Cr.

Determine for 2012: (a) Norton’s other comprehensive income (loss), and (b) comprehensive income. Net income for 2012 is $26,000; no amortization of gain or loss is necessary in 2012.

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