Who are the major information users of financial statements of a company? a. managers of the company b. government agencies who collect income taxes from the company c. labor union of the company d. stockholders and creditors of the company Unrealized holding gains for FVOCI securities a. increase the net income of the year b. increase retained earnings c. increase stockholders' equity d. b and c Castle Coip. holds FVPL securities in its portfolio. The securities were purchased for $32,500 on January 1, 20x1. On December 31, 20x1, the company had an unrealized gain of $320. What impact will this have on Castle's financial statements? a. net income will increase, assets and stockholders' equity not be affected. b. net income will increase, assets and stockholders' equity will increase. income statement will not be affected, assets and stockholders' equity will not be affected. d. income statement will not be affected, assets and stockholders' equity will increase. Suppose by mistake you have counted less of inventory than you actually have at the end of the current accounting period under the periodic system. Which of the following statements is true with respect to your inventory errors? a. Net income of the current year is understated. b. Cost of goods sold in the next period will be understated. c. Retained earnings as of the end of the next period will be self-corrected after all income statement accounts are closed. d. All of the above