100. Gerardo Company had a net income of $75,000, and other comprehensive income of $12,500 for 2010. On January 1, 2010, the Retained Earnings balance was $525,000 and the Accumulated Other Comprehensive Income balance was $55,000. Determine the (a) comprehensive income for 2010, (b) Retained Earnings balance on December 31, 2010, and (c) the Accumulated Other Comprehensive Income on December 31, 2010.
101. Gerardo Company had a net income of $77,000, and other comprehensive income of $12,500 for 2010. On January 1, 2010, the Retained Earnings balance was $425,000 and the Accumulated Other Comprehensive Income balance was $52,000. Determine the (a) comprehensive income for 2010, (b) Retained Earnings balance on December 31, 2010, and (c) the Accumulated Other Comprehensive Income on December 31, 2010.
102. On April 24, 2010, Algon Co. purchased 1,300 shares of Cameron, Inc., for $50 per share including the brokerage commission. The Cameron investment was classified as an available-for-sale security. On December 31, 2010, the fair value of Cameron, Inc., was $75 per share. The net income of Algon Co. was $80,000 for 2010. Prepare a statement of comprehensive income for Algon Co. for the year ended
December 31, 2010.