Question

View Policies Current Attempt in Progress Bramble Co. reports the following information for 2020: sales revenue $756,800, cost of goods sold $518,900, operating expenses $89,600, and an unrealized holding loss on available-for-sale debt securities for 2020 of $54,400. It declared and paid a cash dividend of $12,390 in 2020. Bramble Co. has January 1, 2020, balances in common stock $363,100; accumulated other comprehensive income $88,700; and retained earnings $91,090. It issued no stock during 2020. (Ignore income taxes.) Prepare a statement of stockholders' equity. BRAMBLE CO. Statement of Stockholders' Equity Retained Earnings Accumulated Other Comprehensive Income Common Stock $

Answer 1

Answer-

BRAMBLE CO.

Statement of Stock holders Equity

For the year ended December 31, 2020

Particulars	Total	Retained earnings	Accumulated other comprehensive income	Common stock
Beginning balance	542,890	91,090	88,700	363,100
Net Income	148,300	148,300
Other Comprehensive income
Unrealized holding loss	(54,400)		(54,400)
Dividends	(12,390)	(12,390)
Closing balance	$624,400	$227,000	$34,300	$363,100

Net Income = $756,800-$518,900-$89,600

= $148,300