C. Reither Co. reports the following information for 2014: sales revenue $767,00

Question

C. Reither Co. reports the following information for 2014: sales revenue $767,000; cost of goods sold $525,200; operating expenses $81,900; and an unrealized holding loss on available-for-sale securities for 2014 of $54,800. It declared and paid a cash dividend of $15,000 in 2014.

C. Reither Co. has January 1, 2014, balances in common stock $352,000; accumulated other comprehensive income $81,900; and retained earnings $94,300. It issued no stock during 2014.

Prepare a statement of stockholders’ equity.

Explanation / Answer

Statement of Stockholders equity:

Net income=$767,000-$525,000-$81,900

particulars    amount in $ Opening balance common stock $352,000 Retained earnings $94,300 Add:Net income $159,900 Comprehensive income $81,900 Less: Unrealized loss -$54,800 Dividend -$15,000 Closing Equity $618,300

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