Unstable Variable Material Company owns bonds from a friendly company called The Followers. They classified these as bonds "available for sale" or AFS. During 2023, Unstable hit pay dirt, and these bonds increased by $4 million. They also received interest of $3 million. Given all these numbers, what's the bottom line effect on Unstable's 2023 financial statements?
Unstable Variable Material Company owns bonds from a friendly company called The Followers. They classified these as bonds "available for sale" or AFS. During 2023, Unstable hit pay dirt, and these bonds increased by $4 million. They also received interest of $3 million. Given all these numbers, what's the bottom line effect on Unstable's 2023 financial statements?
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 8P
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K2.
Unstable Variable Material Company owns bonds from a friendly company called The Followers. They classified these as bonds "available for sale" or AFS. During 2023, Unstable hit pay dirt, and these bonds increased by $4 million. They also received interest of $3 million. Given all these numbers, what's the bottom line effect on Unstable's 2023 financial statements?
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