4 hw.docx - Your answer is correct C Reither Co reports the...

This preview shows page 1 - 2 out of 5 pages.

Your answer is correct.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.C. REITHER CO.Statement of Stockholders’ EquityTotalRetainedEarningsAccumulatedOtherComprehensive IncomeCommonStock$$$$$$$$Net income=($700,000– $500,000– $80,000)=$120,000For the Year Ended December 31, 2017Begi nni ng Bal ance5200009000080000350000Net I ncome120000120000Other Comprehensi ve I ncomeUnreal i zed Hol di ng Loss- 60000- 60000Di vi dends- 10000- 10000Endi ng Bal ance57000020000020000350000

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture