During 2008, Mango Corporation held a portfolio of available-for-sale securities having a cost of \(\$ 260,000\). There were no purchases or sales of investments during the year. The market values after adjusting for the impact of taxes, at the beginning and end of the year, were \(\$ 215,000\) and \(\$ 270,000\), respectively. The net income for 2008 was \(\$ 150,000\), and no dividends were paid during the year. The Stockholders' Equity section of the balance sheet was as follows on December 31, 2007:

a. Prepare a statement of comprehensive income for 2008 .

b. Prepare the Stockholders' Equity section of the balance sheet for December 31, 2008.obj. 5

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Mango Corporation Stockholders' Equity December 31, 2007 Common stock Paid-in capital in excess of par value Retained earnings Accumulated other comprehensive loss Total $ 35,000 350,000 435,000 (45,000) $775,000