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For the year ended December 31, 2020, Parson Corporation reported the following: Net income $300,000 Preferred dividends declared 50,000 Common dividend declared 10,000 Unrealized holding
For the year ended December 31, 2020, Parson Corporation reported the following:
Net income $300,000
Preferred dividends declared 50,000
Common dividend declared 10,000
Unrealized holding loss, net of tax 5,000
Retained earnings, beginning balance 400,000
Common stock 200,000
Accumulated Other Comprehensive Income, Beginning Balance 25,000
A. Prepare a Statement of Retained Earnings for Parson Corporation in good form.
B. Prepare the Stockholders Equity section of Parson Corporations Balance Sheet in good form.
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