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Ending balance of retained earnings

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Counting Crows, Inc. provided the following information for the year 2013. Using the information below, prepare Counting Crows 2013 income statement, and answer the questions below. Counting Crows has a tax rate of 35% for 2013. All items are shown pre-tax. Shares outstanding during 2011 were 100,000. Retained earnings, January 1, 2013 $ 600,000 Administrative expenses 240,000 Selling expenses 300,000 Sales revenue 1,900,000 Cash dividends declared and paid (includes $25,000 of preferred dividends) 80,000 Cost of goods sold 850,000 Extraordinary gain 95,000 Rent revenue 40,000 Unrealized holding gain on available-for-sale securities 17,000 What is Counting Crows' comprehensive income for the year ended 2013? [Hint - as we discussed with IBM, this is a combination of the regular income statement and other comprehensive income statement. The best way to answer this question is to prepare a statement that combines the regular income statement with the other comprehensive statement of income.] What is the ending balance of Retained Earnings? Show calculations.

Reference no: EM13962095

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