(Answered) Question at december 31 2017 the available-for-sale debt

Accounting

Question: At December 31, 2017, the available-for-sale debt portfolio for Teal, Inc. is as follows. Prepare a statement of comprehensive income for 2017, starting with net income.

Security	cost	fair value	unrealized gain (loss)
A	$167,125	$143,250	($23,875)
B	$119,375	$133,700	$14,325
C	$219,650	$243,525	$23,875
TOTAL	$506,150	$520,475	$14,325
Previous fair value adj-Dr.			$3,820
FAIR VALUE ADJ-Dr.			$10,505

On January 20, 2018, Teal, Inc. sold security A for $144,205. The sale proceeds are net of brokerage fees.

TealInc. reports net income in 2017 of $1,146,000 and in 2018 of $1,337,000. Total holding gains (including any realized holding gain or loss) equal $382,000 in 2018.

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