Dobson Corporation’s income statement reported net income of $22,400 for the year ended December 31 before accounting for the following: During the year, the company purchased available-for-sale securities. At the end of the year, the fair value of the investment portfolio was $2,100 more than the cost. The retained earnings balance was $83,000 on January 1. Dobson Corporation paid $9,000

Sep 8, 2023

Dobson Corporation’s income statement reported net income of $22,400 for the year ended December 31 before accounting for the following:

  • During the year, the company purchased available-for-sale securities.
  • At the end of the year, the fair value of the investment portfolio was $2,100 more than the cost.
  • The retained earnings balance was $83,000 on January 1.
  • Dobson Corporation paid $9,000 in cash dividends during the year.

Calculate the balance of retained earnings as of December 31.

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Dobson Corporation’s income statement reported net income of $22,400 for the year ended December 31 before accounting for the following: During the year, the company purchased available-for-sale securities. At the end of the year, the fair value of the investment portfolio was $2,100 more than the cost. The retained earnings balance was $83,000 on January 1. Dobson Corporation paid $9,000
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