What does comprehensive income include?

Comprehensive income encompasses all changes in equity during a given period that are not a result of transactions with owners. This includes net income, which is the profit earned by the company after expenses, and other comprehensive income (OCI) such as unrealized gains or losses on certain investments, foreign currency translation adjustments, and pension plan adjustments.

Choosing the option that indicates "all changes in equity except for owner transactions" accurately reflects the definition of comprehensive income, as it isolates the results of the company's operations and other factors impacting equity that do not involve transactions with shareholders, like issuing stock or paying dividends. Transactions with owners, including dividends paid, are specifically excluded from comprehensive income since they are accounted for separately in the statement of changes in equity. Thus, the answer correctly identifies the broader scope of comprehensive income relative to the other choices presented.