On January 1, 2025, Kingbird Inc. had cash and common stock of $61,910. At that...
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On January 1, 2025, Kingbird Inc. had cash and common stock of $61,910. At that date, the company had no other asset, liability, or stockholders' equity balances. On January 2, 2025, it purchased for cash $22,780 of debt securities that it classified as available-forsale. It received interest of $4,130 during the year on these securities. In addition, it has an unrealized holding gain on these securities of $6,070 net of tax. Determine the following amounts for 2025: (a) net income, (b) comprehensive income, (c) other comprehensive income, and (d) accumulated other comprehensive income (end of 2025). (a) Net income $ (b) Comprehensive income (c) Other comprehensive income (d) Accumulated other comprehensive income $
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On January 1, 2025, Kingbird Inc. had cash and common stock of $61,910. At that date, the company had no other asset, liability, or stockholders' equity balances. On January 2, 2025, it purchased for cash $22,780 of debt securities that it classified as available-forsale. It received interest of $4,130 during the year on these securities. In addition, it has an unrealized holding gain on these securities of $6,070 net of tax. Determine the following amounts for 2025: (a) net income, (b) comprehensive income, (c) other comprehensive income, and (d) accumulated other comprehensive income (end of 2025). (a) Net income $ (b) Comprehensive income (c) Other comprehensive income (d) Accumulated other comprehensive income $ 