Question
Riverbed Corporation began operations on January 1, 2017 when $ 217,000 was invested by shareholders of the company. On March 1, 2017, Riverbed purchased for
Riverbed Corporation began operations on January 1, 2017 when $ 217,000 was invested by shareholders of the company. On March 1, 2017, Riverbed purchased for cash $ 117,000 of equity securities that it classified as available-for-sale. During the year, the company received cash dividends of $ 8,300 on these securities. In addition, the company has an unrealized holding loss on these securities of $ 12,300 net of tax. Determine the following amounts for 2017: (a) net income, (b) comprehensive income, (c) other comprehensive income, and (d) accumulated other comprehensive income (end of 2017). (Enter negative amounts using either a negative sign preceding the number e.g. -15 or parentheses e.g. (15).)
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