Question: Missing Statement Items, Available-for-Sale Securities Oceanic Airways makes investments in available-for-sale securities. Selected income statement items for the years ended December 31, 2016 and 2017,

Missing Statement Items, Available-for-Sale Securities

Oceanic Airways makes investments in available-for-sale securities. Selected income statement items for the years ended December 31, 2016 and 2017, plus selected items from comparative balance sheets, are shown in the income statement and balance sheet below: (There were no dividends.)

Determine the missing items. If required, use the minus sign to indicate a net or operating loss, unrealized losses, or a credit balance in the valuation allowance account.

Oceanic Airways
Selected Income Statement Items
For the Years Ended December 31, 2016 and 2017
2016 2017
Operating Income (Loss) $ $
Gain (Loss) from Sale of Investments 6070 (12140)
Net Income (Loss) $ $(16690)

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Oceanic Airways
Selected Balance Sheet Items
December 31, 2015, 2016, and 2017
Dec. 31, 2015 Dec. 31, 2016 Dec. 31, 2017
Assets
Available-for-Sale Investments, at Cost $118370 $103190 $144160
Valuation Allowance for Available-for-Sale Investments 7590 (9110)
Available-for-Sale Investments, at Fair Value
Stockholders' Equity
Unrealized Gain (Loss) on Available-for-Sale Investments (10,620)
Retained Earnings $248870 $352060 $

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