Question

Jude, Inc, provided the following information from its current-year trial balance. (Click the icon to view the financial data.) 0 Account balances Jude issued $5,700 of no-par common stock on April 1 of the current year. Requirement Prepare the stockholders' equity section of the balance sheet at December 31 of the current year. Ignore taxes. Credit Begin by completing Jude's single-step income statement for the current year, one section at a time. (Use a minus sign or parentheses for a net loss. Remember to ignore taxes.) Jude, Inc. Statement of Net Income For the Year Ended December 31 Account Loss on disposal of plant assets Dividends Cost of goods sold Selling expenses Debit 690 820 580,500 71,500 Dividend income 40,250 6,190 91,500 3,592 20,350 550 Advertising expense Office salaries expense Depreciation expense Loss on asset impairment Accounting and legal fees Interest income Unrealized loss on available-for-sale bonds before tax Interest expense Sales Retained earnings: beginning balance Accumulated other comprehensive loss: beginning balance Common stock - no par: beginning balance 460 9,100 775,000 384,200 5,900 86,500 Print Done Net Income (loss) Now, prepare the stockholders' equity section of the balance sheet at December 31 of the current year. (Use parentheses or a minus sign for numbers to be subtracted. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) Stockholders' Equity Total Stockholders' Equity

Answer 1

Answer is given below with working

For Accumulated other comprehensive loss separate working is shown

if you have drop down box available in answer you can show the same in stockholders' equity.

$550 $775,613 Jude Inc. Statement of Net Income For the year ended December 31st Sales $775,000 Dividend Income $63 Interest Income Total Revenues Less: Expenses Cost of Goods sold $580,500 Selling expense $71,500 Advertising expenses $40,250 Office salaries expense Depreciation expense $91,500 Accounting and Legal fees $20,350 Loss on asset impairment $3,592 Loss on disposal of plant asset $690 Interest expense $9,100 Total Expense Net Income $6,190 $823,672 -$48,059 Jude Inc. Stockholders Equity For the year ended December 31st Common Stock Retained earnings Other Comprehensive income (Loss) Comprehensive Income $86,500 $335,321 $6,360 $415,461) Working notes: Jude Inc. Accumulated Other Comprehensive Income (Loss) Statement For the year ended December 31st Opening Balance -$5,900 Other Comprehensive loss Unrealised loss on AFS securities -$460 Comprehensive Income (Loss) -$6,360 Jude Inc. Retained Earnings Statement For the year ended December 31st Retained Earnings - January 1 Add: Net loss $384,200 -$48,059 $336,141 $820 $335,321 Less: Dividends declared Retained Earnings - December 31st