THE PICTURE SHOWS THE QUESTION I DONT UNDERSTAND WHAT YOU DONT GET OF THE QUESTI

Question

THE PICTURE SHOWS THE QUESTION I DONT UNDERSTAND WHAT YOU DONT GET OF THE QUESTION

WHEREVER IT SAYS (WRONG ANSWER ) I NEED THE CORRECT ONE

Missing Statement Items, Trading Investments

Lydell 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 $53700(wrong answer) $2600 Unrealized Gain (Loss) 12700( wrong answer) (2800) Net Income $66400 $19,800 Missing Statement Items, Trading Investments Lydell 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 1 12,?00?? Unrealized Gain (Loss) (2800) 66A00 $19,800 Net Income Lydell Capital, Inc. Selected Balance Sheet Itemes Dec. 31, 2015 $174000 Dec. 31, 2016 Dec31, 2017 243300 Trading Check My 73.42% ¡signment Score: 2

Explanation / Answer

Entire calculation with steps is given above, in case you still need any help or clarification, do let me know.

Thanks.

2016 2017 Operating Income 45200 (66,400-21,200) Step 8 22,600 19800-(-2,800) Unrealized Gain (loss) 21200 (12,700-(-8,500)) Step 7 -2800 Net Income 66400 (271,500-205,100) Step 6 19,800 2015 2016 2017 Trading Investments, at Cost 1,74,000 2,06,500 2,43,300 Valuation Allowance for Trading Investment -8,500 12,700 9900 (12,700-2,800) 4th step Trading Investments at fair value 1,65,500 (174,000-8,500) Step 1 219200 (206,500+12,700) Step 2 2,53,200 Retained Earnings 2,05,100 2,71,500 2,91,300 (271,500+19800) 3rd step

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