At December 31, 2020, the available-for-sale debt portfolio for Steffi Graf, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $17,500 $15,000 ($2,500) B 12,500 14,000 1,500 C...

At December 31, 2020, the available-for-sale debt portfolio for Steffi Graf, Inc. is as follows.

On January 20, 2021, Steffi Graf, Inc. sold security A for $15,100. The sale proceeds are net of brokerage fees.

Assume that Steffi Graf, Inc. reports net income in 2020 of $120,000 and in 2021 of $140,000. Total holding gains (including any realized holding gain or loss) equal $40,000 in 2021.

Instructions

 a. Prepare a statement of comprehensive income for 2020, starting with net income.

 b.Prepare a statement of comprehensive income for 2021, starting with net income.