Chapter 17, Problem 9BE

To determine

Other comprehensive income or losses: All the incomes, gains losses or expenses which are excluded from net income on the income statement are recorded as other comprehensive income using both GAAP as well as IFRS accounting principles.

Accumulated other comprehensive income: An income which is not included in the income statement is recorded as the line item in the shareholder’s equity section of the balance sheet.

Comprehensive income: Comprehensive income is the summation of net income and other items which has not been realized like unrealized holding gains or losses from the sale of shares and foreign currency translation gain or loss.

(a) To determine: To determine the other comprehensive income for 2017.

Given information: All the information related to M Company is recorded in the question document.

To determine

(b) To prepare: To prepare the comprehensive income for 2017.

Given information: All the information related to M Company is recorded in the question document.

To determine

(c) To determine: To determine the accumulated other comprehensive income on December 31, 2017.

Given information: All the information related to M Company is recorded in the question document.