Business, 09.03.2021 01:50, amakayla57

On January 1, 2020, Wildhorse Inc. had cash and common stock of $63,690. At that date, the company had no other asset, liability, or equity balances. On January 2, 2020, it purchased for cash $20,320 of debt securities that it classified as available-for-sale. It received interest of $3,700 during the year on these securities. In addition, it has an unrealized holding gain on these securities of $6,530 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).

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On January 1, 2020, Wildhorse Inc. had cash and common stock of $63,690. At that date, the company h...