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Missing Statement Items, Available-for-Sale Securities Oceanic Airways makes investments in available-for-sale securities. Selected income statement items for the years ended December 31, 2016 and 2017,
Missing Statement Items, Available-for-Sale Securities
Oceanic Airways makes investments in available-for-sale securities. Selected income statement items for the years ended December 31, 2016 and 2017, plus selected items from comparative balance sheets, are shown in the income statement and balance sheet below: (There were no dividends.)
Determine the missing items. If required, use the minus sign to indicate a net or operating loss, unrealized losses, or a credit balance in the valuation allowance account.
| Oceanic Airways | ||
| Selected Income Statement Items | ||
| For the Years Ended December 31, 2016 and 2017 | ||
| 2016 | 2017 | |
| Operating Income (Loss) | $ | $ |
| Gain (Loss) from Sale of Investments | 6070 | (12140) |
| Net Income (Loss) | $ | $(16690) |
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| Oceanic Airways | |||
| Selected Balance Sheet Items | |||
| December 31, 2015, 2016, and 2017 | |||
| Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2017 | |
| Assets | |||
| Available-for-Sale Investments, at Cost | $118370 | $103190 | $144160 |
| Valuation Allowance for Available-for-Sale Investments | 7590 | (9110) | |
| Available-for-Sale Investments, at Fair Value | |||
| Stockholders' Equity | |||
| Unrealized Gain (Loss) on Available-for-Sale Investments | (10,620) | ||
| Retained Earnings | $248870 | $352060 | $ |
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