Jen has been employed by Komp, Inc. since February 1, 2004. Jen is covered by Komp’s Section 401(k) deferred compensation plan. Jen’s contributions have been 10% of salaries. Komp has made matching contributions of 5%. Jen’s salaries were $21,000 in 2004, $23,000 in 2005, and $26,000 in 2006. Employer contributions vest after an employee completes three years of continuous employment. The balance in Jen’s 401(k) account was $11,900 at December 31, 2006, which included earnings of $1,200 on Jen’s contributions. What amount should be reported for Jen’s vested interest in the 401(k) plan in Jen’s December 31, 2006 personal statement of financial condition?
- $11,900
- $ 8,200
- $ 7,000
- $ 1,200