Exercise 4-16 Larkspur Co. reports the following information for 2017: sales rev

Question

Exercise 4-16 Larkspur Co. reports the following information for 2017: sales revenue $778,100, cost of goods sold $510,600, operating expenses $86,300, and an unrealized holding loss on available-for-sale securities for 2017 of $54,800. It declared and paid a cash dividend of $12,210 in 2017. Larkspur Co. has January 1, 2017, balances in common stock $361,500; accumulated other comprehensive income $86,900; and retained earnings $97,980. It issued no stock during 2017. Prepare a statement of stockholders' equity. LARKSPUR CO. Statement of Stockholders' Equity Accumulated Other Total Retained Earnings Comprehensive Income Common Stock Unrealized Holding Loss Beginning Balance Dividends Ending Balance Other Comprehensive Income Net Income LINK TO TEXT VIDEO: SIMILAR EXERCISE

Explanation / Answer

Statement of Stockholder's Equity tota Retained OCI CS earnings Beginning balance 546,380 97,980 86,900 361,500 comprehensive income-net income 181,200 181200 OCI-unreaalised holding loss -54,800 -54,800 dividends -12,210 -12,210 Ending balance 660,570 266,970 32,100 361,500

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