Answer:
Sheffield Co
statement of stockholders' equity
for the year ended 31th December 2020
Common Stock RE OCI Total
Balance Jan 1 360,400 92,040 86,000 538,440
Net Income 167,900 167,900
unrealized loss -53,700 -53,700
Dividends -11,670 -11,670
Stock issued
Balance, Dec 31 360,400 248,270 608,670
Explanation:
We need to calcualte the net income:
sales revenue 777, 100
cost of goods sold (520,000)
operating expenses <u> (89,200) </u>
Net Income 167,900
This will go into retained earnings
Dividends will also impact on retained earnings
Unrealized holding loss on available-for-sale debt securities for 2020 of $53,700.
This will modify the other comprehensive income.
The rest, will be post the beginning balance and include this variation.
