Question

Oriole Co. reports the following information for 2020: sales revenue $778,900, cost of goods sold $515,500, operating expenses $89,100, and an unrealized holding loss on available-for-sale debt securities for 2020 of $58,700. It declared and paid a cash dividend of $12,690 in 2020. Oriole Co. has January 1, 2020, balances in common stock $355,000; accumulated other comprehensive income $84,300; and retained earnings $92,170. It issued no stock during 2020. (Ignore income taxes.) Prepare a statement of stockholders' equity. ORIOLE CO. Statement of Stockholders' Equity Total Retained Earnings Accumulated Other Comprehensive Income Common Stock

Answer 1

ORIOLE CO. Statement of Stockholders' Equity For the Year Ended December 31, 2020 Accumulated Other Total Retained Earnings Common stock Comprehensive Income 531,470 S 92.170S 84.300 S 355,000 174,300S 174.300 $ $ Beginning Balance Net Income Other Comprehensive Income Unrealized Holding Loss Dividends Ending Balance (58,700) S S S (58,700) (12,690 S 634,380S (12.690) 253,780S 25,600S 355,000 Working notes: ORIOLE CO. Income statement For the Year Ended December 31, 2020 Sales Revenue $ 778.900 Less: cost of Goods Sold 515,500 Gross Profit S 263.400 Less: operating Expense S 89.100 Net Income S 174,300