Question

C. Reither Co. reports the following information for 2017: sales revenue $700,000, cost of goods sold $500,000, operating expenses $80,000, and an unrealized holding loss on available-for-sale securities for 2017 of $60,000. It declared and paid a cash dividend of $10,000 in 2017. C. Reither Co. has January 1, 2017, balances in common stock $350,000; accumulated other comprehensive income $80,000; and retained earnings $90,000. It issued no stock during 2017 Prepare a statement of stockholders' equity.

Answer 1

Answer:

Explanation:

Statement of SE

for the year ending 2017

Beg bal.

Retained earnings 90,000

Accumulated other comprehensive income 80,000

Common stock 350,000

Beg bal. Total 520,000

Add: Net Income 120,000[700,000-500,000-80,000]

Less:

Dividends (10,000)

Other Comprehenive loss (60,000)

Ending bal. 570,000