Question

Coal inc had the following amounts on its balance sheet on December 31, 2018: Common stock...

Coal inc had the following amounts on its balance sheet on December 31, 2018:

Common stock $159000

Retained earnings 963,000

Treasury stock 123,000

Accumulated other comprehensive income (37,500)

During 2019, Coal inc reported net income of $69,300, declared cash dividends of $47,700,purchased additional treasury stock for $12,600, and experienced a foreign currency translation gain of $5,400. What amount will Coal inc report as total stockholders equity at December 31, 2019 on its statement of stockholders equity?

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Answer #1
Common Stock $             1,59,000 =159000
Retained Earnings $             9,84,600 =963000+69300-47700
Treasury Stock $             1,35,600 =123000+12600
Accumulated other comprehensive income $               -32,100 =-37500+5400
Total Shareholder's Equity $          12,47,100
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