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On January 1, 2020, Skysong Inc. had cash and common stock of $61,640. At that date, the company had no other asset, liability, or equity

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On January 1, 2020, Skysong Inc. had cash and common stock of $61,640. At that date, the company had no other asset, liability, or equity balances. On January 2, 2020, it purchased for cash $21.220 of debt securities that it classified as available for sale.it received interest of $3,870 during the year on these securities. In addition, it has an unrealized holding gain on these securities of $5,670 net of tax. Determine the following amounts for 2020: (a) net income, (b) comprehensive income. (c) other comprehensive income, and (d) accumulated other comprehensive income (end of 2020). (a) Net income $ (b) Comprehensive income $ (c) Other comprehensive income $ (d) Accumulated other comprehensive income $

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