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BE4.13 (LO5) On January 1, 2019, Otano Ltd. had cash and share capital of 60,000,000. At that date, the company had no other asset, liability,
BE4.13 (LO5) On January 1, 2019, Otano Ltd. had cash and share capital of 60,000,000. At that date, the company had no other asset, liability, or equity balances. On January 2, 2019, it purchased for cash 20,000,000 of equity securities that it classified as non-trading. It received cash dividends of 3,000,000 during the year on these securities. In addition, it has an unrealized holding gain on these securities of $4,000,000 (net of tax). Determine the following amounts for 2019: (a) net income, (b) comprehensive income, (c) other comprehensive income, and (d) accumulated other comprehensive income (end of 2019)
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