On January 1, 2017, Tri-State Industries Had Cash and Common

question 132

Multiple Choice

On January 1, 2017, Tri-State Industries had cash and common stock of $180,000. At that date the company had no other asset, liability or equity balances. On January 2, 2017, it purchased $160,000 of equity securities for cash that it classified as available-for-sale. It received cash dividends of $12,000 during the year on these securities. In addition, it had an unrealized holding gain on these securities of $32,000 net of tax. Based on this information, what is the amount of comprehensive income in 2017?

• A) $44,000
• B) $20,000
• C) $12,000
• D) $32,000

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Definitions:

Eating Disorders

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