Question
Trading invesments: missing financial statement items JED Capital Inc., makes investments in trading securities. Selected income statement and balance sheets for the years ended
Trading invesments: missing financial statement items JED Capital Inc., makes investments in trading securities. Selected income statement and balance sheets for the years ended December 31, Year 2 and Year 3, are as follows: There were no dividends. Determine the missing items. JED Capital Inc. Selected Income Statement Items For the Years Ended December 31, Year 2 and Year 3 Income from operations Unrealized loss on trading investments Net Income Trading Investments, at Cost Year 2 Year 3 (3,900) $27,300 JED Capital Inc. Selected Balance Sheet Items December 31, Year 1, Year 2, and Year 3 Dec. 31, Year 1 $240,000 Dec. 31, Year 2 $284,700 Dec. 31, Year 3 $335,500 17,600 Valuation Allowance for Trading Investments (11,700) Trading Investments, at Fair Value Retained Earnings $282,800 $374,300
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