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Craftsman Corporation began operations on January 1, 2022 when $200,000 was invested by shareholders of the company. On March 1, 2022, Craftsman purchased for cash
Craftsman Corporation began operations on January 1, 2022 when $200,000 was invested by shareholders of the company. On March 1, 2022, Craftsman purchased for cash $120,000 of equity securities that it classified as non-trading. During the year, the company received cash dividends of $8,200 on these securities. In addition, the company has an unrealized holding loss on these securities of $12,800 net of tax. Determine the following amounts for 2022: (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) (a) Net income/(loss) $ (b) Comprehensive income/(loss) $ (c) Other comprehensive income/(loss) $ (d) Accumulated other comprehensive income/(loss) at December 31, 2022 $
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