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ydell Capital, Inc., makes investments in trading securities. Selected income statement items for the years ended December 31, 2016 and 2017, plus selected items from
ydell Capital, Inc., makes investments in trading securities. Selected income statement items for the years ended December 31, 2016 and 2017, plus selected items from comparative balance sheets, are shown in the income statement and balance sheet below:
There were no dividends.
Determine the missing items.
Lydell Capital, Inc. | ||
Selected Income Statement Items | ||
For the Years Ended December 31, 2016 and 2017 | ||
2016 | 2017 | |
Operating Income | $ | $ |
Unrealized Gain (Loss) | (2700) | |
Net Income | $ | $18,600 |
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Lydell Capital, Inc. | |||
Selected Balance Sheet Items | |||
December 31, 2015, 2016, and 2017 | |||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2017 | |
Trading Investments, at Cost | $163500 | $194000 | $228600 |
Valuation Allowance for Trading Investments | (8000) | 12000 | |
Trading Investments, at Fair Value | |||
Retained Earnings | $192700 | $255000 | $ |
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