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Lydell Capital, Inc., makes investmests in trading securities. Selected income statement items for the years ended December 31, 2010 and 2011, plus selected items for
Lydell Capital, Inc., makes investmests in trading securities. Selected income statement items for the years ended December 31, 2010 and 2011, plus selected items for comparative balance sheets are as follows: Lydell Capital, Inc. Selected Income Statement Items For the Years Ended December 31, 2010 and 2011 2010 2011 Operating income a e Unrealized gain (loss) b $(2000) Net Income c $14,000 Lydell Capital, Inc. Selected Balance Sheet Items December 31, 2009, 2010, and 2011 Dec. 31, 2009 Dec. 31, 2010 Dec. 31, 2011 Trading Investments, at no cost $123,000 $146000 $172,000 Valuation allowance for trading (6000) 9000 g investments Trading investments, at fair value d f h Retained earnings $145000 $192,000 i There were no dividend. Determine the missing lettered items. If required, use the minus sign to indicate a net loss, unrealized losses, or a credit balance in the valuation allowance account. a. b. c. 47000 d. $117,000 e.$16000 f. $155,000 g.$7000 h.179000
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