At December 31, 2020, the available-for-sale debt portfolio for Sunland, Inc. is as follows. ...
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At December 31, 2020, the available-for-sale debt portfolio for Sunland, Inc. is as follows.
| Security | Cost | Fair Value | Unrealized Gain (Loss) | ||||
| A | $17,200 | $14,500 | $(2,700 | ) | |||
| B | 11,700 | 14,400 | 2,700 | ||||
| C | 23,900 | 25,600 | 1,700 | ||||
| Total | $52,800 | $54,500 | 1,700 | ||||
| Previous fair value adjustment balanceDr. | 400 | ||||||
| Fair value adjustmentDr. | $1,300 | ||||||
On January 20, 2021, Sunland, Inc. sold security A for $14,600. The sale proceeds are net of brokerage fees. Sunland, Inc. reports net income in 2020 of $118,000 and in 2021 of $141,000. Total holding gains (including any realized holding gain or loss) equal $45,000 in 2021.
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