Question

The income statement for delta tec inc for the year ended December 31,2016, was 1. Income...

The income statement for delta tec inc for the year ended December 31,2016, was
1. Income from operations $292,770.00
2. Gain on sale of investments $18,200.00
3. Less unrealized loss on trading investments $(74,190.00)
4. Net income $236,800.00
The balance sheet dated December 31,2025 showed a retained earnings balance of $847,150. During $2016, the company purchased trading investments for the first time at a cost of $351,130, in addition trading investments with a cost of $68,350 were sold at a gain during 2016.the company paid $63,820 in dividends in 2016.
A.determine the December 31,2016 retained earnings balance
B. Provide the December 31,2016 balance sheet presentation for trading investments refer to the information given and the list of accounts and amount depreciations provided for the exact wording of the answer choices for the text entries. “ less is plus will automatically appear if it is required for those boxes in which you must enter subtracted or negative use a minus sign
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Answer #1

Please refer the NOTE provided before the balance sheet preparation.

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