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Bramble Corporation began operations on January 1, 2020 when $227,000 was invested by shareholders of the company. On March 1, 2020, Bramble purchased for
Bramble Corporation began operations on January 1, 2020 when $227,000 was invested by shareholders of the company. On March 1, 2020, Bramble purchased for cash $115,000 of debt securities that it classified as available-for-sale. During the year, the company received cash interest of $7,500 on these securities. In addition, the company has an unrealized holding loss on these securities of $13,800 net of tax. Determine the following amounts for 2020: (a) net income, (b) comprehensive income, (c) other comprehensive income, and (d) accumulated other comprehensive income (end of 2020). (Enter negative amounts using either a negative sign preceding the number e.g. -15 or parentheses e.g. (15).) (a) Net income (b) Comprehensive income/loss (c) Other comprehensive income +A $ +A (d) Accumulated other comprehensive income/loss +A +A $
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