Reference no: EM132531950
Question - A corporation reports the following:
Common Stock balance 1/1/19 30,000
Additional Paid in Capital balance 1/1/19 80,000
Retained Earnings balance 1/1/19 90,000
Accumulated Other Comprehensive Income 1/1/19 5,000
During 2019 (January - December) the business reports income from continuing operations of 115,000; a loss from discontinued operations of (25,000); and other comprehensive income of 4,000. The business declares (and paid) cash dividends of $35,000 in 2019.
Required -
1. Calculate the net income for 2019.
2. Calculate the comprehensive income for 2019.
3. Calculate the Retained Earnings balance on 12/31/19.
4. Calculate the Stockholder Equity on 12/31/19.
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