Question 1

a. Given accumulated other comprehensive income on January 1 of $48,000 (credit), and other comprehensive income for the year of $2,000 (gain), what is accumulated other comprehensive income at year-end?

b. If Net income is $40,000

Retained earnings 2019 $13,000

Retained earnings 2020 $43,000

Dividends $11,000

Total Stockholder's equity $165,000

Other comprehensive income ($1,000)

comprehensive income $40,500

What is Common stock?