Question 1 Riverbed Co reports the following information for

Question 1 Riverbed Co, reports the following information for 2017: sales revenue $762,800, cost of goods sold $524,200, operating expenses $82,000, and an unrealized holding loss on available-for-sale securities for 2017 of $56,700. It declared and paid a cash dividend of $14,660 in 2017 Riverbed Co. has January 1, 2017, balances in common stock $368,700; accumulated other comprehensive income $87,500; and retained earnings $95,830. It issued no stock during 2017 Prepare a statement of stockholders\' equity RIVERBED CO t of Accumulated Other Total h etained Earnings Comprehensive Income Common Stock Question Attempts: 0 of 1 used SAVE FOR LATER SU Version 4.24.4.5 2000-2018 John Wiley & Sons Inc. All Rights Reserved. A Division of

Solution

Working notes:

Net income calculation

RIVERBED CO
Statement of Stockholders Equity
	Total	Retained earnings	Accumulated other Comprehensive income	Common stock
Opening balance	$5,52,030	$95,830	$87,500	$3,68,700
Net income		$1,56,600
Cash dividends		-$14,660
Unrealized holding loss on available for sale securities			-$56,700
Closing balance	$6,37,270	$2,37,770	$30,800	$3,68,700