Business, 10.09.2019 23:20, Alysssssssssssa
Flounder corporation began operations on january 1, 2020 when $230,000 was invested by shareholders of the company. on march 1, 2020, flounder purchased for cash $101,000 of debt securities that it classified as available-for-sale. during the year, the company received cash interest of $8,900 on these securities. in addition, the company has an unrealized holding loss on these securities of $13,100 net of tax. determine the following amounts for 2020: (a) net income, (b) comprehensive income, (c) other comprehensive income, and (d) accumulated other comprehensive income (end of 2020). (enter negative amounts using either a negative sign preceding the number e. g. -15 or parentheses e. g. (
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Flounder corporation began operations on january 1, 2020 when $230,000 was invested by shareholders...
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