Andrews Medical reported a net loss–AOCI in last year’s balance sheet. This year, the company revised its estimate of future salary levels causing its PBO estimate to decline by $12 million. Also, the $22 million actual return on plan assets fell short of the $24 million expected return. How does this gain and loss affect Andrews’ income statement, statement of comprehensive income, and balance sheet?
Income Statement:
Net income ?
Comprehensive income statement
Gain- OCI?
Loss- OCI?
Balance Sheet:
Net pension liability decrease by?
Net loss- AOCI deccrease by?