Valet Corporation began operations in 2021. An analysis of Valet's debt securities portfolio acquired in 2021 shows the following totals at December 31, 2021 for trading and available-for-sale debt securities: Trading Available-for-Sale
Securities Securities
Aggregate cost $180,000 $220,000
Aggregate fair value 160,000 190,000
What amount should Valet report in its 2021 income statement for unrealized holding loss?

Baskin promotions, inc. sells t-shirts decorated for a variety of concert performers. the company has developed the following budget for the coming year based on a sales forecast of 80,000 t-shirts: sales $ 1,400,000 cost of goods sold 820,000 gross profit 580,000 operating expenses ($100,000 is fixed) 418,400 operating income 161,600 income taxes (30% of operating income) 48,480 net income $ 113,120 cost of goods sold and variable operating expenses vary directly with sales, and the income tax rate is 30% at all levels of operating income. if the concert season is slow due to poor weather, baskin estimates that sales could fall to as low as 60,000 t-shirts. assume baskin actually achieves the 60,000 unit sales level, and that net income actually earned at this level was $70,000. a performance report would indicate that net income was: