Highland Industries Inc. Selected Income Statement Items For the Years Ended December 31, Year 2 and Year 3 Year 2 Year 3 Operating income a. g. Gain (loss) from sale of investments $7,500 $(12,000) Net income (loss) b. (21,000) Highland Industries Inc. Selected Balance Sheet Items December 31, Year 1, Year 2, and Year 3 Dec. 31, Year 1 Dec. 31, Year 2 Dec. 31, Year 3 Assets $ 90,000 $ 86,000 $102,000 Available-for-sale investments, at cost Valuation allowance for available-for-sale investments (11,000) h. 12,000 Available-for-sale investments, at fair value C. i. e. Stockholders' Equity Unrealized gain (loss) on available-for-sale investments Retained earnings d. f. (16,400) $220,000 $175,400 j.

Highland Industries Inc. Selected Income Statement Items For the Years Ended December 31, Year 2 and Year 3 Year 2 Year 3 Operating income a. g. Gain (loss) from sale of investments $7,500 $(12,000) Net income (loss) b. (21,000) Highland Industries Inc. Selected Balance Sheet Items December 31, Year 1, Year 2, and Year 3 Dec. 31, Year 1 Dec. 31, Year 2 Dec. 31, Year 3 Assets $ 90,000 $ 86,000 $102,000 Available-for-sale investments, at cost Valuation allowance for available-for-sale investments (11,000) h. 12,000 Available-for-sale investments, at fair value C. i. e. Stockholders' Equity Unrealized gain (loss) on available-for-sale investments Retained earnings d. f. (16,400) $220,000 $175,400 j.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4E

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