Need answer the question On January 1, 2010, Otano Inc, had cash and share capital ofYen 60,000,000. At that date, the company had no other asset,liability, or equity balances. On January 2, 2010, it purchasedfor cash Yen 20,000,000 of equity securities that it classifiedas non-trading. It received cash dividends of Yen 3,000,000during the year on these securities. In addition, it has anunrealized holding gain on these securities of Yen 4,000,000net of tax.Determine the following amounts for 2010:a) Net income.b) Comprehensive income.c) Other Comprehensive Income, andd) Accumulated other comprehensive income (end of 2010).

Step 1: Define DividendDividends are the earnings available to the shareholders. Dividends are…

Answered: On January 1, 2010, Otano Inc, had cash…

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter15: Investments And Fair Value Accounting

Section: Chapter Questions

Problem 28E

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