Need help with this general accounting question Scout Corporation has a net income of $500,000 and an unrealizedloss on available-for-sale securities (net of tax) of $7,500. Othercomprehensive income would be:a. $7,500b. $507,500c. $492,500d. $500,000

Step 1: Define Comprehensive IncomeComprehensive income refers to the changes in the stockholder's…

Answered: Scout Corporation has a net income of…

Financial Management: Theory & Practice

16th Edition

ISBN:9781337909730

Author:Brigham

Publisher:Brigham

Chapter2: Financial Statements, Cash Flow,and Taxes

Section: Chapter Questions

Problem 10MC

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Scout Corporation has a net income of $500,000 and an unrealized loss on available-for-sale securities (net of tax) of $7,500. Other comprehensive income would be: a. $7,500 b. $507,500 c. $492,500 d. $500,000