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At December 31, 2020, the available for sale debt portfolio for Sunland, Inc. is as follows. Security Cost Unrealized Gain (Loss) Fair Value A $17.200
At December 31, 2020, the available for sale debt portfolio for Sunland, Inc. is as follows. Security Cost Unrealized Gain (Loss) Fair Value A $17.200 $14,500 $12,700) B 11,700 14.400 2,700 C 23.900 25,600 1.700 Total $52.800 $54,500 1,700 Previous fair value adjustment balance-Dr. 400 Fair value adjustment-Dr. $1,300 On January 20, 2021, Sunland, Inc sold security A for $14,600. The sale proceeds are net of brokerage fees. Sunland, Inc. reports net income in 2020 of $118,000 and in 2021 of $141,000. Total holding gains (including any realized holding gain or loss) equal $45,000 in 2021. Prepare a statement of comprehensive income for 2021, starting with net income. SUNLAND, INC Statement of Comprehensive Income For the Year Ended December 31, 2021 Net Income $ Other Comprehensive Income Unrealized Holding Gains $ 45,000 Add : Reclassification Adjustment for Loss Included in Net Income Comprehensive Income $ Accumulated Other Comprehensive Income Beginning Balance, January 1, 2021 s Current Period Other Comprehensive income $ Amount Reclassified from Accumulated Other Comprehensive Income Unrealized Holding Gains Ending Balance December 31, 2021 $
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