The following is from the 2024 annual report of Kaufman Chemicals, Incorporated: Statements of Comprehensive Income Net income Other comprehensive income: Change in net unrealized gains on AFS investments, net of tax of $29, ($17), and $19 in 2024, 2023, and 2022, respectively Other Total comprehensive income Additional paid-in capital Retained earnings Accumulated other comprehensive income Total shareholders' equity 2024 $385 9,181 8,261 129 $ 17,956 Years Ended December 31 2023 2024 2022 $ 966 $ 796 $ 651 40 (3) $ 1,003 Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equity as follows: ($ in millions) Shareholders' equity: Common stock 2023 (24) (2) $ 770 $385 9,181 7,705 92 $ 17,363 25 1 $ 677 Required: 3. From the information provided, determine how Kaufman calculated the $129 million accumulated other comprehensive income in 2024. Note: Negative amount should be indicated by a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).
The following is from the 2024 annual report of Kaufman Chemicals, Incorporated: Statements of Comprehensive Income Net income Other comprehensive income: Change in net unrealized gains on AFS investments, net of tax of $29, ($17), and $19 in 2024, 2023, and 2022, respectively Other Total comprehensive income Additional paid-in capital Retained earnings Accumulated other comprehensive income Total shareholders' equity 2024 $385 9,181 8,261 129 $ 17,956 Years Ended December 31 2023 2024 2022 $ 966 $ 796 $ 651 40 (3) $ 1,003 Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equity as follows: ($ in millions) Shareholders' equity: Common stock 2023 (24) (2) $ 770 $385 9,181 7,705 92 $ 17,363 25 1 $ 677 Required: 3. From the information provided, determine how Kaufman calculated the $129 million accumulated other comprehensive income in 2024. Note: Negative amount should be indicated by a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Visno
![The following is from the 2024 annual report of Kaufman Chemicals, Incorporated:
Statements of Comprehensive Income
Net income
Other comprehensive income:
Change in net unrealized gains on AFS investments, net of tax of
$29, ($17), and $19 in 2024, 2023, and 2022, respectively
Other
Total comprehensive income
Additional paid-in capital
Retained earnings
Accumulated other comprehensive income
Total shareholders' equity
Accumulated other comprehensive income, 2023
Accumulated other comprehensive income, 2024
2024
$385
9,181
8,261
129
$ 17,956
($ in millions)
Years Ended December
2024
$ 966
40
(3)
$ 1,003
Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equity as follows:
($ in millions)
Shareholders' equity:
Common stock
2023
2023
$385
9,181
7,705
92
$ 17,363
$ 796
(24)
(2)
$ 770
31
2022
$ 651
Required:
3. From the information provided, determine how Kaufman calculated the $129 million accumulated other comprehensive income in
2024.
Note: Negative amount should be indicated by a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as
10).
25
1
$ 677](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6d6bb360-4b4a-4553-b669-09e65e107bbd%2Fedf0c034-3c73-4e65-932c-5b41498d5ade%2F3f8cdz9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following is from the 2024 annual report of Kaufman Chemicals, Incorporated:
Statements of Comprehensive Income
Net income
Other comprehensive income:
Change in net unrealized gains on AFS investments, net of tax of
$29, ($17), and $19 in 2024, 2023, and 2022, respectively
Other
Total comprehensive income
Additional paid-in capital
Retained earnings
Accumulated other comprehensive income
Total shareholders' equity
Accumulated other comprehensive income, 2023
Accumulated other comprehensive income, 2024
2024
$385
9,181
8,261
129
$ 17,956
($ in millions)
Years Ended December
2024
$ 966
40
(3)
$ 1,003
Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equity as follows:
($ in millions)
Shareholders' equity:
Common stock
2023
2023
$385
9,181
7,705
92
$ 17,363
$ 796
(24)
(2)
$ 770
31
2022
$ 651
Required:
3. From the information provided, determine how Kaufman calculated the $129 million accumulated other comprehensive income in
2024.
Note: Negative amount should be indicated by a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as
10).
25
1
$ 677
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