Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How do I get the total for Shareholder's Equity and net income for 2015 if I have the info below. Beginning Retained earning for 2016

How do I get the total for Shareholder's Equity and net income for 2015 if I have the info below. Beginning Retained earning for 2016 was given as 5,173,286 which I know I could use as ending RE for 2015. However, I tried to calculate how they was able to get to that number and I could not come up with a number that would match that. Thank you.

  1. accumulated other comprehensive income (loss): 621,236
  2. accumulated depreciation, PPE: 1,829,634
  3. additional paid in capital, common stock: 299,304
  4. additional paid in capital, preferred stock: 75
  5. common stock: 300,000
  6. COGS: 3,000,235
  7. Depreciation expense: 307,200
  8. dividends common stock: 292,351
  9. dividends preferred stock: 2,000
  10. Interest Expense: 191,240
  11. (loss) income from discontinued operations, net of tax: 28,100
  12. preferred stock: 900
  13. provision for income tax: 245,105
  14. research and development expense: 199,500
  15. restructuring charges: 199,506
  16. retained earning, beginning: 2,960,256
  17. sales: 8,430,061
  18. selling general and admin expenses: 1,751,794
  19. treasury stock, at cost: 4,472,969

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions