Ask Question
21 December, 15:14

On January 1, 2017, Metlock, Inc. had cash and common stock of $19,5000. At that date the company had no other asset, liability or equity balances. On January 2, 2017, it purchased $175000 of equity securities for cash that it classified as available-for-sale. It received cash dividends of $13500 during the year on these securities. In addition, it had an unrealized holding gain on these securities of $33500 net of tax. Based on this information, what is the amount of comprehensive income in 2017?

+2
Answers (1)
  1. 21 December, 17:12
    0
    The amount of comprehensive income in 2017 is $47000.

    Explanation:

    comprehensive income = dividends + unrealized holding gain on securities

    = $13500 + $33500

    = $47000

    Therefore, the amount of comprehensive income in 2017 is $47000.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On January 1, 2017, Metlock, Inc. had cash and common stock of $19,5000. At that date the company had no other asset, liability or equity ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers