On January 1- 2025- Sheffield inc had cashand common stock of -$62-280.pdf

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On January 1, 2025, Sheffield inc had cashand common stock of \$62,280. At that date, the company had no other asset, liability, or stockholders' equity balances. On lanuary 2,2025, it purchased for cash $24 , 390 of debt securities that it classified as available-forsale It received interest of $3 , 700 during the year on these securities. In addition, it has an unrealized holding gain on these securities of $5 , 390 net of tax. Determine the following amounts for 2025: (a) net income. (b) comprehensive income. (c) other comprehensive income, and id) accumulated other comprehensive income (end of 2025), (a) Netincome: (b) Comprehensive income (c) Other comprehensive income (d) Accumblated other comprebensive income.

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