Question - On December 31, 2015, Valur Co. had the following available-for-sale investment disclosure within the Current Assets section of the balance sheet:
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1
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Available-for-sale investments (at cost)
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$153,350.00
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2
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Plus valuation allowance for available-for-sale investments
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47,350.00
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3
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Available-for-sale investments (at fair value)
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$200,700.00
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There were no purchases or sales ofavailable-for-sale investments during 2016. On December 31, 2016, thefair value of the available-for-sale investment portfolio was $212,950. The net income of Valur Co. was $241,350 for 2016.
Compute the comprehensive income for Valur Co. for the year ended December 31, 2016. Refer to the Chart of Accounts and the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. If a net loss is incurred, enter that amount as a negative number using a minus sign.
Compute the comprehensive income for Valur Co. for the year ended December 31, 2016. Refer to the Chart of Accounts and the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. If a net loss is incurred, enter that amount as a negative number using a minus sign.