Trading invesments: missing financial statement items JED Capital Inc., makes investments in trading securities. Selected income statement and balance sheets for the years ended December 31, Year 2 and Year 3, are as follows: There were no dividends. Determine the missing items. JED Capital Inc. Selected Income Statement Items For the Years Ended December 31, Year 2 and Year 3 Year 2 Year 3 Income from operations Unrealized loss on trading investments (2,600) Net Income $18,100
Trading invesments: missing financial statement items JED Capital Inc., makes investments in trading securities. Selected income statement and balance sheets for the years ended December 31, Year 2 and Year 3, are as follows: There were no dividends. Determine the missing items. JED Capital Inc. Selected Income Statement Items For the Years Ended December 31, Year 2 and Year 3 Year 2 Year 3 Income from operations Unrealized loss on trading investments (2,600) Net Income $18,100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Trading invesments: missing financial statement items
JED Capital Inc., makes investments in trading securities. Selected income statement and balance sheets for the years ended December 31, Year 2 and Year 3, are as
follows:
There were no dividends. Determine the missing items.
JED Capital Inc.
Selected Income Statement Items
For the Years Ended December 31, Year 2 and Year 3
Year 2
Year 3
Income from operations
2$
Unrealized loss on trading investments
(2,600)
Net Income
$18,100
Transcribed Image Text:JED Capital Inc.
Selected Balance Sheet Items
December 31, Year 1, Year 2, and Year 3
Dec. 31, Year 1
Dec. 31, Year 2
Dec. 31, Year 3
Trading Investments, at Cost
$159,100
$188,800
$222,400
Valuation Allowance for Trading Investments
(7,800)
11,600
Trading Investments, at Fair Value
Retained Earnings
$187,500
$248,200
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