Question
XYZ reports the following information for 2022 : sales revenue $1,000,000, cost of goods sold $500,000, operating expenses $290,000, gain on sale of land $50,000.an
XYZ reports the following information for 2022 : sales revenue $1,000,000, cost of goods sold $500,000, operating expenses $290,000, gain on sale of land $50,000.an unrealized gain in the vaule of the office building of $160000an unrealized holding loss on available-for-sale securities for 2021 of $40,000; and an unrealized gain in the value of the company's reputation of $100,000. It declared cash dividend of $150,000 (of which $37,500 will be paid 1/15/23) in 2022. The company issued 15,000 shares on 8/1/22 for equipment valued at $70,000 and 10,000 shares on 4/1/22 for $50,000. Tax rate for 2022 is 20%. XYZ has 12/31/21, common stock PV $3, issued 100,000 shares at and average issue price of $4.50; accumulated other comprehensive income $120,000; and retained earnings $600,000. Instructions Prepare a statement of stockholders' equity.
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