Ivanhoe Co. reports the following information for 2017: sales revenue $767,200, cost of goods sold $503,000,...

Ivanhoe Co. reports the following information for 2017: sales revenue $767,200, cost of goods sold $503,000, operating expenses $87,800, and an unrealized holding loss on available-for-sale securities for 2017 of $59,600. It declared and paid a cash dividend of $14,450 in 2017.

Ivanhoe Co. has January 1, 2017, balances in common stock $362,300; accumulated other comprehensive income $87,600; and retained earnings $91,850. It issued no stock during 2017.

Prepare a statement of stockholders’ equity.

Expert Solution

IVANHOE CO.
Stockholders’ Equity:

	Total	Retained	Accumulated	Common stock
	($)	Earnings ($)	Other Comprehensive	($)
			Income ($)
Beginning Balance	541,750.00	91,850.00	87,600.00	362,300.00
Net Income	176,400.00	176,400.00	-	-

Unrealized Holding Loss	(59,600.00)	-	(59,600.00)	-
Dividends	(14,450.00)	(14,450.00)	-	-
Ending Balance	644,100.00	253,800.00	28,000.00	362,300.00

Explanation:
Net Income = $767,200-$503,000-$87,800 = $176,400

ekkarill92 answered 7 months ago

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