LM, Inc. reported net income for the year ending December 31 of $483,500. Dividends paid during the year totaled $52,900. The company holds available-for-sale securities with an original cost of $162,000 and a fair value of $181,000 at the end of the year. It also holds trading securities with an original cost of $150,000 and a fair value of $147,000. Retained earnings on January 1 was $736,400, and accumulated other comprehensive income on January 1 was $16,200.?Calculate the following balances to be reported in the financial statements dated December 31:
(a) Valuation allowance for available-for-sale securities
(b) Comprehensive income
(c) Retained earnings
(d) Accumulated other comprehensive income

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The Answer of LM, Inc. reported net income for the year ending December 31 of $483,500. Dividends paid during the year totaled $52,900. The company holds available-for-sale securities with an original cost of $162,000 and a fair value of $181,000 at the end of the year. It also holds trading securities with an original cost of $150,000 and a fair value of $147,000. Retained earnings on January 1 was $736,400, and accumulated other comprehensive income on January 1 was $16,200.?Calculate the following balances to be reported in the financial statements dated December 31:
(a) Valuation allowance for available-for-sale securities
(b) Comprehensive income
(c) Retained earnings
(d) Accumulated other comprehensive income

LM, Inc Reported Net Income for the Year Ending December 31