ENTRESOURCES Briel Exercise 4-07 On January 1, 2020, Sheffield Corp. had cash and common shares of $70,000. At that date, the company had no other bor sharholders equity ances. Onuary 2 2020, Sheffield Corp. paid $50,000 cash for equity securities that it designated as fait value through other comprehensive income (FV och Investments. During they had a received non taxable cash dividends of $22,000 and had an unrealed holding in a $29.000 (net tax on these securities. Determine the following amounts for 2020 Part Sol Net Income (L) (6) Other Comprehensive abmiss 12. (c) Comprehensive Income (d) Accumulated Other Comprehensive Income at the end of 2070) Sco wels Study Quest Amats of type here to each FI s 96 5 8 0 9 7 We E E 0 1 u R Y T W H F 2