Use the following information to answer questions 16-17 Total equity was $100 at the end of...
Use the following information to answer questions 16-17
Total equity was $100 at the end of 2015. During 2016, the company had net income of $30, other comprehensive income of $3, declared dividends of $10, repaid debt of $14, issued new stock of $2 and had capital expenditures of $7.
______16) How much comprehensive income did the company have during 2016?
A. $16 B. $23 C. $33 D. some other amount
______17) How much total equity does the company have at the end of 2016?
A. $125 B. $111 C. $104 D. some other amount
Homework Answers
-- Comprehensive Income = Net Income + other comprehensive income
= $ 30 + $ 3
Comprehensive Income = $33
So, Option C
-- Total Equity = Equity at the beginning + New equity issued + Comprehensive Income - Dividends
= $ 100 + $ 2 + $ 33 - $ 10
= $ 125
So, Option A
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