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On January 1, 2020, Pharoah Company had cash and common shares of $ 80,000. At that date, the company had no other asset, liability, or

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On January 1, 2020, Pharoah Company had cash and common shares of $ 80,000. At that date, the company had no other asset, liability, or shareholders' equity balances. On January 2, 2020, Pharoah Company paid $ 60,000 cash for equity securities that it designated as fair value through other comprehensive income (FV-OCI) investments. During the year, Pharoah Company received non-taxable cash dividends of $ 26,000 and had an unrealized holding gain of $ 29,000 (net of tax) on these securities. Determine the following amounts for 2020: a (a) Net Income /(Loss) $ (b) Other Comprehensive Income $ (c) Comprehensive Income $ (d) Accumulated Other Comprehensive Income (as at the end of 2020) $ e Textbook and Media

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