9 3SecurityAppleBananaCrispTotalCost(a)$33,600175,00059,400$268,000Fair Value$31,000174,00068,500$273,500December 31, 2025, fair value adjustment balance-Dr. $5,400On January 20, 2026, Zorro sold Apple for $31,100. The sale proceeds are net of brokerage fees.Zorro Foods Corp. reports net income in 2025 of $689,600 and in 2026 of $235,000. Total unrealized holding gains (including anyrealized holding gain or loss) arising during 2026 totals $26,600.APrepare a statement of comprehensive income for 2025 starting with net income.ZORRO FOODS CORP.Statement of Comprehensive Income>$

It is one of the primary financial statements used in accounting and financial reporting. It…

Answered: Security Apple Banana Crisp Total Cost…

Security Apple Banana Crisp Total Cost $33,600 175,000 59,400 Fair Value $31,000 174,000 68,500 $268,000 $273,500 December 31, 2025, fair value adjustment balance-Dr. $5,400

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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Question

3
Security
Apple
Banana
Crisp
Total
Cost
(a)
$33,600
175,000
59,400
$268,000
Fair Value
$31,000
174,000
68,500
$273,500
December 31, 2025, fair value adjustment balance-Dr. $5,400
On January 20, 2026, Zorro sold Apple for $31,100. The sale proceeds are net of brokerage fees.
Zorro Foods Corp. reports net income in 2025 of $689,600 and in 2026 of $235,000. Total unrealized holding gains (including any
realized holding gain or loss) arising during 2026 totals $26,600.
A
Prepare a statement of comprehensive income for 2025 starting with net income.
ZORRO FOODS CORP.
Statement of Comprehensive Income
>
$

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