On December 31, Year 1, Valur Co. had the following available-for-sale investment disclosure within the Current Assets section of the balance sheet: Available-for-sale investments (at cost) $145,000Plus valuation allowance for available-for-sale investments 40,000Available-for-sale investments (at fair value) $185,000There were no purchases or sales of available-for-sale investments during Year 2. On December 31, Year 2, the fair value of the available-for-sale investment portfolio was $200,000. The net income of Valur Co. was $210,000 for Year 2.Compute the comprehensive income for Valur Co. for the year ended December 31, Year 2.
On December 31, Year 1, Valur Co. had the following available-for-sale investment disclosure within the Current Assets section of the balance sheet:
Available-for-sale investments (at cost) $145,000
Plus valuation allowance for available-for-sale investments 40,000
Available-for-sale investments (at fair value) $185,000
There were no purchases or sales of available-for-sale investments during Year 2. On December 31, Year 2, the fair value of the available-for-sale investment portfolio was $200,000. The net income of Valur Co. was $210,000 for Year 2.
Compute the comprehensive income for Valur Co. for the year ended December 31, Year 2.
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