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Gerardo Company had a net income of $75,000, and other comprehensive income of $12,500 for 2012. On January 1, 2012, the Retained Earnings balance was $525,000 and the Accumulated Other Comprehensive Income balance was $55,000. Determine the (a) comprehensive income for 2012, (b) Retained Earnings balance on December 31, 2012, and (c) the Accumulated Other Comprehensive Income on December 31, 2012.
Lenders
Individuals or institutions that provide funds to borrowers under the condition of being repaid with interest.
Real Interest Rate
The interest rate adjusted for inflation, reflecting the true cost of borrowing or the real yield on an investment.
Actual Rate
The real, observed interest rate in the market, not adjusted for inflation.
Inflation
The rate at which prices for general goods and services increase, lessening the ability to buy.
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