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XYZ, reports the following information for 2024 to it's accountants: sales revenue $800,000, cost of goods sold $450,000, operating expenses $150,000. An unrealized holding gain
XYZ, reports the following information for 2024 to it's accountants: sales revenue $800,000, cost of goods sold $450,000, operating expenses $150,000. An unrealized holding gain of $90,000 on debt securities. The unrealized gain represents an increase in the fair value of debt securities and is classified as part of other comprehensive income. XYZ declared and paid a cash dividend of $50,000 in 2024. During 2024, XYZ issued 7,000 shares for $45,000, and issued 20,000 shares for equipment that has a fair value of $95,000. Tax rate for 2024 is 20%. XYZ has 12/31/23 balance in stockholders' equity of $565,000. Common Stock Par Value $2, authorized 400,000 shares, issued and outstanding shares of 50,000 ; average issue price of $5.50; accumulated other comprehensive income $90,000; and retained earnings $200,000 Instructions: Copy the table below and complete the statement of stockholders' equity for 12/31/24. Prepare a statement of stockholders' equity as of 12/31/24. (8 points)
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