Highland Industries Inc. makes investments in available-for-sale securities. Selected income statement items for the years ended December
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There were no dividends. Determine the missing lettereditems.
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Highland Industries Inc. Selected Income Statement Items For the Years Ended December 31, 2014 and 2015 2014 a. $7,500 b. 2015 Operating income Gain (loss) from sale of investments Net income (loss) g. $(12,000) (21,000) Highland Industries Inc. Selected Balance Sheet Items December 31, 2013, 2014, and 2015 Dec. 31, 2013 Dec. 31, 2014 Dec. 31, 2015 Assets Available-for-sale investments, at cost Valuation allowance for available-for-sale investments Available-for-sale investments, at fair value 90,000 $86,000 $102,000 12000 1,000 C. e. Stockholders' Equity Unrealized gain (loss) on available-for-sale investments Retained earnings (16,400) d. $175,400 $220,000
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a 37100 44600 7500 b 44600 220000 175400 c 102000 90000 12000 d 12000 Same ...View the full answer
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Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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