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Question 1: Question 2: Presented below is information related to Metlock Company at December 31, 2025, the end of its first year of operations. On
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Question 2:
Presented below is information related to Metlock Company at December 31, 2025, the end of its first year of operations. On January 1, 2025, Marigold Inc. had cash and common stock of $63,350. At that date, the company had no other asset, liability, or stockholders' equity balances. On January 2,2025 , it purchased for cash $20,540 of debt securities that it classified as available-forsale. It received interest of $4,060 during the year on these securities. In addition, it has an unrealized holding gain on these securities of $5,000 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). (a) Net income (b) Comprehensive income (c) Other comprehensive income (d) Accumulated other comprehensive income $ $ $ $Step by Step Solution
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