Question
Calvo Co. reports the following information for 2020: sales revenue $350,000; cost of goods sold $250,000; operating expenses $40,000; and an unrealized holding loss on
Calvo Co. reports the following information for 2020: sales revenue $350,000; cost of goods sold $250,000; operating expenses $40,000; and an unrealized holding loss on available-for-sale securities for 20 of $30,000. It declared and paid a cash dividend of $5,000 in 2020. Calvo Co. has January 1, 2020, balances in common stock $175,000; accumulated other comprehensive income $40,000; and retained earnings $45,000. It issued no stock during 2020.
Prepare a statement of stockholders equity.
Please provide explanations on how you got to the answer.
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