At December 31, 2018, Hull-Meyers Corp. had the following investments that were purchased during 2018, its first year of operations Cost Fair Value Trading Securities: Security A Security B $ 985,000 997,500 190,000 185,400 $1,175,000 $1,182,900 Totals Securities Available-for-Sale: Security C Security D Totals $ 785,000 856,500 985,000 1,003,400 $1,770,000 $1,859,900 Securities to Be Held-to-Maturity: Security E Security F Totals $ 575,000 586,700 700,000 694,300 $1,275,000 $1,281,000 No investments were sold during 2018. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent. Required Compute the below table to calculate the following. (Amounts to be deducted should be indicated with a minus sign.) Required: Compute the below table to calculate the following. (Amounts to be deducted should be indicated with a minus sign.) Answer is complete but not entirely correct. Other Total Net Income Current assets Noncurrent assets Comprehensive Comprehensive Income (OCI) Income Trading Securities $ 997,500 $ 185,400 2,500 (4,600) S 12,500 SecurityA SecurityB s (4.600)s Securities Available-for-Sale 0S71,50071,500 0 $856,500 Security C Security D $ 985,000 x s Securities to be Held-to- Maturit $ 586,700x 11,700 $ 11,700 Security E Security F $700,000S 2,626,100 $ 1,685,000 7,900 S Totals 83,200 $ 91,100 At December 31, 2018, Hull-Meyers Corp. had the following investments that were purchased during 2018, its first year of operations Cost Fair Value Trading Securities: Security A Security B $ 985,000 997,500 190,000 185,400 $1,175,000 $1,182,900 Totals Securities Available-for-Sale: Security C Security D Totals $ 785,000 856,500 985,000 1,003,400 $1,770,000 $1,859,900 Securities to Be Held-to-Maturity: Security E Security F Totals $ 575,000 586,700 700,000 694,300 $1,275,000 $1,281,000 No investments were sold during 2018. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent. Required Compute the below table to calculate the following. (Amounts to be deducted should be indicated with a minus sign.) Required: Compute the below table to calculate the following. (Amounts to be deducted should be indicated with a minus sign.) Answer is complete but not entirely correct. Other Total Net Income Current assets Noncurrent assets Comprehensive Comprehensive Income (OCI) Income Trading Securities $ 997,500 $ 185,400 2,500 (4,600) S 12,500 SecurityA SecurityB s (4.600)s Securities Available-for-Sale 0S71,50071,500 0 $856,500 Security C Security D $ 985,000 x s Securities to be Held-to- Maturit $ 586,700x 11,700 $ 11,700 Security E Security F $700,000S 2,626,100 $ 1,685,000 7,900 S Totals 83,200 $ 91,100
