Comprehensive income

On December 31, 2011, Memphis Co. had the following available for sale investment disclosure within the current Assets section of the balance sheet:

Available for sale investments (at cost)

$105,000

Plus valuation allowance for available for sale investments

15,000

Available for sale investments (at fair value)

$120,000

There were no purchases or sales of available for sale investments during 2012. On December 31, 2012, the fair value of the available for sale investment portfolio was $94,000. The net income of Memphis Co. was $150,000 for 2012.

Compute the comprehensive income for Memphis Co. for the year ended December 31, 2012.