Silas Company reported the following information for 2007 Sales revenue: $500,000; Cost of goods sold: 350,000; Operating expenses: 55,000; Unrealized holding gain on available-for-sale securities: 20,000 and Cash dividends received on the securities: 2,000, For 2007, Silas would report g comprehensive income of aut of D a. $20,000 Leon O b. $117,000. D ¢ $97,000 O d. $115000. 1Silas Company reported the following information for 2007: Sales revenue: $500,000; Cost of goods sold: 350,000; Operating expenses: 55,0003;Unrealized holding gain on available-for-sale securities: 20,000 and Cash dividends received on the securities: 2,000. For 2007, Silas would reportdcomprehensive income ofout ofO a. $20,000.questionO b. $117,000.O. $97,000.O d. $115,000.

Option (b) is the correct answer.

Answered: Silas Company reported the following…

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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Silas Company reported the following information for 2007 Sales revenue: $500,000; Cost of goods sold: 350,000; Operating expenses: 55,000; Unrealized holding gain on available-for-sale securities: 20,000 and Cash dividends received on the securities: 2,000, For 2007, Silas would report g comprehensive income of aut of D a. $20,000 Leon O b. $117,000. D ¢ $97,000 O d. $115000.

1
Silas Company reported the following information for 2007: Sales revenue: $500,000; Cost of goods sold: 350,000; Operating expenses: 55,0003;
Unrealized holding gain on available-for-sale securities: 20,000 and Cash dividends received on the securities: 2,000. For 2007, Silas would report
d
comprehensive income of
out of
O a. $20,000.
question
O b. $117,000.
O. $97,000.
O d. $115,000.

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