7
Quiz Company reported the following transactions related to its investments.
A Company reported net income of $1,000,000 for the year ended December 31, Year 1 and $1,200,000 for the year ended December 31, Year 2.
B Company reported net income of $2,000,000 for the year ended December 31, Year 1 and $2,100,000 for the year ended December 31, Year 2.
The following fair values were available for the investments as of December 31, Year 1 and Year 2.
|
|
Year 1 |
Year 2 |
|
A Company |
$21 per share |
$19 per share |
|
B Company |
$27 per share |
$28 per share |
|
C Company |
$105,000 |
$99,000 |
|
D Company |
$55,000 |
$58,000 |
|
E Company |
$90,000 |
$95,000 |
Determine the pretax increase (decrease) in other comprehensive income in Year 2 resulting from the investments.
Give your answer using dollar signs and commas but no decimal points (cents).
Example: $12,345 or $(12,345)
