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Brief Exercise 4-11 On January 1, 2017, Blue Inc. had cash and common stock of $62,970. At that date, the company had no other asset,
Brief Exercise 4-11 On January 1, 2017, Blue Inc. had cash and common stock of $62,970. At that date, the company had no other asset, liability, or equity balances. On January 2, 2017, it purchased for cash $21,180 of debt securities that it classified as available-for-sale. It received interest of $4,150 during the year on these securities. In addition, it has an unrealized holding gain on these securities of $5,600 net of tax. Determine the following amounts for 2017: (a) net income, (b) comprehensive income, (c) other comprehensive income, and (d) accumulated other comprehensive income (end of 2017) (a) Net income (b) Comprehensive income (c) Other comprehensive income (d) Accumulated other comprehensive income $ Click if you would like to Show Work for this question: Open Show Work
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