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What amount appeared on syracuse balance sheet

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Reference no: EM132507844

Syracuse, Inc. reported net income of $202,052 thousand for fiscal 2017. The annual report included the following details about its available-for-sale debt securities:

($ thousands)                                                2017              2016

Cost of available-for-sale debt               $102,907          $83,849

Gross unrealized gains                          3,602                  1,694

Gross unrealized losses                       (1,198)                       (2,434)

Question a. What amount appeared on Syracuse's balance sheet in 2017 for available-for-sale debt securities?

Question b. If Syracuse had instead classified these debt securities as trading, what would net income have been? Assume a marginal tax rate of 37% for your calculations.

Reference no: EM132507844

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