EX 15-14 Missing statement items, trading investments

JED Capital Inc. makes investments in trading securities. Selected income statement items for the years ended December 31, 2014 and 2015, plus selected items from comparative balance sheets, are as follows:




JED Capital Inc.
Selected Income Statement Items
For the Years Ended December 31, 2014 and 2015
2014 2015
Operating income a. e.
Unrealized gain (loss) b. $(11,000)
Net income c. 28,000
JED Capital Inc.
Selected Balance Sheet Items
December 31, 2013, 2014, and 2015
Dec. 31, 2013 Dec. 31, 2014 Dec. 31, 2015
Trading investments, at cost $144,000 $168,000 $205,000
Valuation allowance for trading investments (12,000) 17,000 g.
Trading investments, at fair value d. f. h.
Retained earnings $210,000 $245,000 i.


There were no dividends.

Determine the missing lettered items.


Answer:
a. $6,000 $35,000 [from (c)] – $29,000 [from (b)]
b. $29,000 $17,000 – (– $12,000)
c. $35,000 $245,000 – $210,000
d. $132,000 $144,000 – $12,000
e. $39,000 $28,000 + $11,000
f. $185,000 $168,000 + $17,000
g. $6,000 $17,000 – $11,000
h. $211,000 $205,000 + $6,000
i. $273,000 $245,000 + $28,000