Q3- Oriole Co. reports the following information for 2017: sales revenue $780,80

Question

Q3- Oriole Co. reports the following information for 2017: sales revenue $780,800, cost of goods sold $519,000, operating expenses $88,800, and an unrealized holding loss on available-for-sale securities for 2017 of $56,200. It declared and paid a cash dividend of $12,950 in 2017. Oriole Co. has January 1, 2017, balances in common stock $362,700; accumulated other comprehensive income $83,900; and retained earnings $98,160. It issued no stock during 2017. Prepare a statement of stockholders’ equity.

Explanation / Answer

Prepare a statement of stockholders’ equity.

Ending balance of retained earning = Beginning retained earnings+Net income-Dividend

= 98160+(780800-519000-88800)-12950

Ending balance of retained earnings = 258210

Paid in capital Common Stock 362700 Total paid in capital 362700 Retained earnings 258210 Accumlated other comprehensive income (83900-56200) 27700 Total Stockholder's equity 648610

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