Question

Pharoah Co. reports the following information for 2017: sales revenue $756,800, cost of goods sold $518,900, operating expenses $89,600, and an unrealized holding loss on available-for-sale securities for 2017 of $54,400. It declared and paid a cash dividend of $12,390 in 2017.

Pharoah Co. has January 1, 2017, balances in common stock $363,100; accumulated other comprehensive income $88,700; and retained earnings $91,090. It issued no stock during 2017.

Prepare a statement of stockholders’ equity.

	total	retained earnings	Accumulated Other Comprehensive Incom	common stock
begining balance
net income
dividends
other comp income
unrealized holding loss

Answer 1

	Total	Retained earning	Accumulated other comprehensive income	common stock
Beginning balance	542890	91090	88700	363100
Net income	148300	148300	0	0
Dividend	(12390)	(12390)	0	0
other comprehensive income
unrelalized holding loss	(54400)		(54400)
Ending balance	624400	227000	34300	363100

**Net income (no taxe provided) =sales expense

        = 756800-518900-89600

        = 148300