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On lanuary 1,2020, sheffeld Inc, had cashand common stock of $62,280. At that date, the company had no other asset, liability, or equity balances. On
On lanuary 1,2020, sheffeld Inc, had cashand common stock of $62,280. At that date, the company had no other asset, liability, or equity balances. On January 2,2020, it purchased for cash $24,390 of debt securities that it classified as avallable-for-sale. It received Interest of $3,700 during the year on these securities. In addition, it has an unrealized holding gain on these securitles of $5.390 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
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