Determine the net income and comprehensive income

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Reference no: EM131263901

On January 1, 2017, Waterway Inc. had cash and common stock of $60,530. At that date, the company had no other asset, liability, or equity balances. On January 2, 2017, it purchased for cash $20,760 of debt securities that it classified as available-for-sale. It received interest of $4,100 during the year on these securities. In addition, it has an unrealized holding gain on these securities of $5,190 net of tax. Determine the following amounts for 2017: (a) net income, (b) comprehensive income, (c) other comprehensive income, and (d) accumulated other comprehensive income (end of 2017). (a) Net income $ (b) Comprehensive income $ (c) Other comprehensive income $ (d) Accumulated other comprehensive income $

Reference no: EM131263901

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