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Problem 17-9 On January 1, 2017, Marigold Inc. had the following balance sheet. MARIGOLD INC. BALANCE SHEET AS OF JANUARY 1, 2017 Assets Equity Cash

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Problem 17-9 On January 1, 2017, Marigold Inc. had the following balance sheet. MARIGOLD INC. BALANCE SHEET AS OF JANUARY 1, 2017 Assets Equity Cash Debt investments (available-for-sale) Total $254,100 12,400 $266,500 $49,800 Common stock 216,700 Accumulated other comprehensive income $266,500 Total The accumulated other comprehensive income related to unrealized holding gains on available-for-sale debt securities. The fair value of Marigold Inc.'s available-for-sale debt securities at December 31, 2017, was $177,700; its cost was $138,200. No securities were purchased during the year, Marigold Inc.'s income statement for 2017 was as follows. (Ignore income taxes) MARIGOLD INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Dividend revenue Gain on sale of investments Net income $4,500 28,600 $33,100

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