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Exercise 16-12 a-b (Video) Sheridan Company has the following data at December 31, 2020. Securities Trading Available-for-salInvestments Sheridan Company Income Statement (Partial) For the Year Ended December 31, 2020 Unrealized Gain on Trading Secur

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Answer #1
Sheridan Company
Balance Sheet (Partial)
December 31, 2020
Current Assets
Short-term, at fair value $125,000
Investments
Investments in stock of less than 20% owned companies, at fair value $93,800
Stockholders’ equity
Less: Unrealized loss on non-trading securities $7,300
Sheridan Company
Income Sheet (Partial)
For the Year Ended December 31, 2020
Other revenues and gains
Unrealized gain on trading securities $3,500
Sheridan Company
Comprehensive Income Statement
For the Year Ended December 31, 2020
Other Comprehensive Income/(Loss)
Unrealized loss on non-trading securities ($7,300)
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