At December 31, 2016, Hull-Meyers Corp. had the following investments that were

Question

At December 31, 2016, Hull-Meyers Corp. had the following investments that were purchased during 2016, its first year of operations:

At December 31, 2016, Hull-Meyers Corp. had the following investments that were purchased during 2016, its first year of operations:

Cost Fair Value Trading Securities: Security A Security B $ 915,000 $ 926,500 114,700 120,000 Totals $1,035,000 $1,041,200 Securities Available-for-Sale Security C Security D $ 715,000 $ 793,500 930,600 915,000 Totals $1,630,000 $1,724,100 Securities to Be Held-to-Maturity: Security E Security F $ 505,000 630,000 515,400 624,700 Totals $1,135,000 $1,140,100 No investments were sold during 2016. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent Required Compute the below table to calculate the following. (Amounts to be deducted should be indicated with a minus sign.)

Explanation / Answer

Reported on balance sheet as Unrealized gain/(loss) included in Current assets Non current assets Net income Other comprehensive income Total comprehensive income Trading securities: Security A 926500 11500 (926500-915000) Security B 114700 -5300 (114700-120000) 6200 Securities available for sale: Security C 793500 78500 (793500-715000) Security D 903600 15600 (930600-915000) 94100 Securities to be held-to-maturity: Security E 505000 0 0 0 Security F 630000 0 0 0 2339700 1533600

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