Gerardo Company Had a Net Income of $75,000, and Other

question 86

Essay

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.

---

Definitions:

Task Approach

The manner or strategy with which an individual or group confronts and executes a given task.

Task Interdependencies

The degree to which tasks within a project or process rely on each other for successful completion.

Individual Autonomy

The capacity of an individual to act independently, make their own choices, and control their own life.

Majority Opinions

The views or beliefs that are held by the greater number of individuals within a group or society.