Answer:
$35 million
Explanation:
Schaeffer Corporation
50 million accumulated other comprehensive income
Less other comprehensive income of $15 million.
Balance in accumulated other comprehensive income $35 million
Therefore the balance in accumulated other comprehensive income in last year's balance sheet will be $35 million because
two attributes of other comprehensive income are reported which is the components of comprehensive income which was been created during the reporting period($15 million) and the comprehensive income accumulated over the current and prior periods ($50 million )in which the $50 million is said to represents the cumulative total of the changes that occured in each component created during each reporting period throughout all prior years.
