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Broadbean Co. had the following amounts on its balance sheet on December 31, 2018: Common stock and Additional paid in capital $ 106,000 Retained earnings 642,000 Treasury stock 82,000 Accumulated other comprehensive income (loss) $ (25,000 ) During 2019, Broadbean Co. reported net income of $46,200, declared cash dividends of $31,800, purchased additional treasury stock for $8,400, and experienced a foreign currency translation gain of $3,600. What amount will Broadbean report as total stockholders’ equity at December 31, 2019 on its statement of stockholders’ equity? Multiple Choice

Sagot :

Answer:

$650,600

Explanation:

       Stockholders’ equity as at December 31, 2019

Common stock and Additional paid in capital          $106,000

Retained earnings {642000+46200-31800]             $656,400

Less: Treasury stock [82000+8400]                          $90,400

Accumulated other comprehensive income             ($21,400)

(loss) [(25000)+3600]

Stockholders’ equity                                                   $650.600