Exercise 17-10

At December 31, 2017, the available-for-sale debt portfolio for Grouper, Inc. is as follows.

Security

Cost

Fair Value

Unrealized

Gain (Loss)

A $35,875 $30,750 $(5,125 )

B 25,625 28,700 3,075

C 47,150 52,275 5,125

Total $108,650 $111,725 3,075

Previous fair value adjustment balanceDr. 820

Fair value adjustmentDr. $2,255

On January 20, 2018, Grouper, Inc. sold security A for $30,955. The sale proceeds are net of brokerage fees.

Grouper Inc. reports net income in 2017 of $246,000 and in 2018 of $287,000. Unrealized holding gains and gains equal $82,000 in 2018.

Prepare a statement of comprehensive income for 2017, starting with net income.

GROUPER, INC

Statement of Comprehensive Income

For the Year Ended December 31, 2017

$

$

LINK TO TEXT

Prepare a statement of comprehensive income for 2018, starting with net income.

GROUPER, INC

Statement of Comprehensive Income

For the Year Ended December 31, 2018

$

$

:

$

$

$

$