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Hutson Company holds an available-for-sale debt investment with a carrying value of $90,000 that it purchased in the current yeat. The current fair value of
Hutson Company holds an available-for-sale debt investment with a carrying value of $90,000 that it purchased in the current yeat. The current fair value of the investment is $83,000 and the present value of the future cash flows from the debt investment is $87,000. Hutson does not intend to sell the investment; however, it does deem it more likely than not that it will be able to hold the investment until the market recovers. Read the requirements. Requirement a. If impairment exists, what amount of loss will Hutson report in net income? What amount of loss will it report in other comprehensive income? (Enter "0" for any zero amounts.) Hutson will report $ in net income and it will report in other comprehensive income
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