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Sarasota Corp. has the following securities ( all purchased in 2 0 2 3 ) in its investment portfolio on December 3 1 , 2
Sarasota Corp. has the following securities all purchased in in its investment portfolio on December : Anderson Indicate how all amounts will be reported on Sarasota's statement of financial position and statement of comprehensive income,
and the changes in the accumulated other comprehensive income portion of the statement of changes in equity for If an
amount reduces the account balance then enter with negative sign.
Sarasota Corp.
Statement of Financial Position
As at December
Common Share
$
Sarasota Corp.
Statement of Comprehensive Income
For the Year Ended December
Items that will not be reclassified to net income:
Corp. common shares, which cost $; Munter Ltd common shares, which cost $; and King Corp. preferred
shares, which cost $ Their fair values at the end of were as follows: Anderson $; Munter $; and King
$
In Sarasota completed the following transactions:
On January sold Anderson common shares at $ per share less fees of $
On April purchased Castle Ltd common shares at $ per share plus fees of $
The company adds transaction costs to the cost of acquired investments and deducts them from cash received on the sale of
investments. On December the fair values per share of the securities were as follows: Munter $; King $; and Castle
$ Sarasota's accounting supervisor tells you that all these securities have fair values that can be readily determined, but the
company is not likely to actively trade them.Management accounts for them using the OCI method without recycling. Any gains or
losses are reclassified to Retained Earnings on disposition of the investment. Ignore income taxes.
Please solve d
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