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On January 1, 2025, Coronado Inc. had cash and common stock of $60,530. At that date, the company had no other asset, liability, or stockholders'
On January 1, 2025, Coronado Inc. had cash and common stock of $60,530. At that date, the company had no other asset, liability, or stockholders' equity balances. On January 2,2025 , it purchased for cash $20,760 of debt securities that it classified as available-forsale. It received interest of $4,100 during the year on these securities. In addition, it has an unrealized holding gain on these s/curities of $5,190 net of tax. Determine the following amounts for 2025: (a) net income, (b) comprehensive income, (c) other comprehensive income, and (d) accumulated other comprehensive income (end of 2025). On January 1,2025, Coronado Inc. had cash and common stock of $60,530. At that date, the company had no other asset, liability, or stockholders' equity balances. On January 2, 2025, it purchased for cash $20,760 of debt securities that it classified as available-forsale. It received interest of $4,100 during the year on these securities. In addition, it has an unrealized holding gain on these sacurities of $5,190 net of tax. Determine the following amounts for 2025: (a) net income, (b) comprehensive income, (c) other comprehensive income, and (d) accumulated other comprehensive income (end of 2025)
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