Message-ID: <5716811.1075843087751.JavaMail.evans@thyme>
Date: Sun, 12 Dec 1999 22:31:00 -0800 (PST)
From: mrwood@beachrd.com
To: e202a-1@haas.berkeley.edu, e202a-2@haas.berkeley.edu
Subject: Question on Handout 3
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Hello Folks,

There has been some confusion about the Income Statement Gain/Loss Comparison 
table on page 4 of Handout 3.  This table is correct as given and reflects 
income statement gains and losses due to changes in market value only.  This 
table does not include income due to interest payments or dividends 
received.  As you recall, market value changes for trading securities flow 
through the income statement while gains and losses for available for sale 
and held to maturity securities only affect income when they are sold.

Michelle Wood
mwood@haas.berkeley.edu

 - att1.htm