C. Reither Co. reports the following information for 2014: sales revenue $777,10

Question

C. Reither Co. reports the following information for 2014: sales revenue $777,100; cost of goods sold $523,700; operating expenses $83,500; and an unrealized holding loss on available-for-sale securities for 2014 of $55,700. It declared and paid a cash dividend of $14,300 in 2014.

C. Reither Co. has January 1, 2014, balances in common stock $351,500; accumulated other comprehensive income $85,300; and retained earnings $96,800. It issued no stock during 2014.

Prepare a statement of stockholders’ equity.

              Total         Retained Earnings Income       Common Stock 1) 2) 3) 4) 5) 6)

Explanation / Answer

Statement of Stock Holder's Equity Total Retained Earnings Income Common Stock Opening Balance 533600 96800 85300 351500 Net Income 169900 Less : Unrealised Loss 55700 55700 Less : Cash Dividend 14300 14300 633500 96800 15300 351500 Income Statement Sales Revenue 777100 Less : Cost of Goods sold 523700 Gross profit 253400 Less :                 Operating Expenses 83500 Net Income 169900

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