Lavage Rapide is a Canadian company ORIOLE INC.BALANCE SHEETAS OF JANUARY 1, 2025AssetsEquityCash$63,000Common stock$396,000Debt investments (available-for-sale)365,000Accumulated other comprehensive income32,000Total$428,000Total$428,000The accumulated other comprehensive income related to unrealized holding gains on available-for-sale debt securities. The fair valueof Oriole Inc.'s available-for-sale debt securities at December 31, 2025, was $310,000; its cost was $286,000. No debt securities werepurchased during the year. Oriole Inc.'s income statement for 2025 was as follows: (Ignore income taxes.)ORIOLE INC.INCOME STATEMENTFOR THE YEAR ENDED DECEMBER 31, 2025Interest revenue$10,000Gain on sale of investments28,000Net income$38,000(Assume all transactions during the year were for cash.)

Lavage Rapide Case: Oriole Inc. Financial AnalysisThis case presents information about Oriole Inc.,…

Answered: ORIOLE INC. BALANCE SHEET AS OF JANUARY…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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