I NEED HELP ASAP PLEASE. THANK YOU IN ADVANCE. PLEASE PROVIDE ME WITH THE CORREC

Question

I NEED HELP ASAP PLEASE. THANK YOU IN ADVANCE. PLEASE PROVIDE ME WITH THE CORRECT SOLUTION THIS PROBLEM IS GRADED.

Exercise 17-10 (Part Level Submission) At December 31, 2017, the available-for-sale debt portfolio for Bramble, Inc. is as follows. Unrealized Gain (Loss) Security Cost Fair Value 5195,750 182,700 332,775 5711,225 $(32,625) $228,375 163,125 300,150 $691,650 19,575 32,625 19,575 5,220 $14,355 Total Previous fair value adjustment balance-Dr. Fair value adfustment-Dr On January 20, 2018, Bramble, Inc. sold security A for $197,055. The sale proceeds are net of brokerage fees. Brambleinc. reports net income in 2017 of $1,566,000 and in 2018 of $1,827,000, Total holding gains (including any realized holding gain or loss) equal $522,000 in 2018. ? (a) Your answer is correct. Prepare a statement of comprehensive income for 2017, starting with net income. BRAMBLE, INC For the Year Ended December 31, 2017 Statement of Income Net Income 1,566,000 Other Comprehensive Income Unrealized Holding Gain Comprehensive Income 14,355 1580355 Click if you would like to Show Work for this question: Open Show Work SHOW ANSWEF Your answer is partially correct. Try again. Prepare a statement of comprehensive income for 2018, starting with net income. BRAMBLE, INC Income Statement of For the Year Ended December 31, 2018 Net Income 1,827,000 Other Comprehensive Income Holding Gains 522,000 Add Redassification Adjustment for Loss Included in Net Income ? 31320 553320 Comprehensive Income 2380320 Accumulated Other Comprehensive Income Beginning Balance, January 1, 2018 14,355 522,000 Current Period Other Comprehensive income Amount Reclassified from Accumulated Other Comprehensive Income Unrealized Holding Gain 31320 553320 Ending Balance, December 31, 2018 567675

Explanation / Answer

Beginning balance in, january 1, 2018 is 19,575 but not 14,355.

Then, ending balance comes to 572895

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