For the year ended December 31, 20x1, Pitchfork Inc. reported the following: Net income $300,000 Understatement of prior year's income due to Change in Accounting Principle (net of tax) 100,000 Common dividend declared 40,000 Unrealized holding loss, net of tax 5,000 Retained earnings, beginning balance 500,000 Common stock 300,000 Accumulated Other Comprehensive Income, Beginning Balance 50,000 What would Pitchfork report as total stockholder's equity as of December 31, 20x1? ○ $1,205,000 O $ 955,000 $1,160,000 O $1,060,000

For the year ended December 31, 20x1, Pitchfork Inc. reported the following: Net income $300,000 Understatement of prior year's income due to Change in Accounting Principle (net of tax) 100,000 Common dividend declared 40,000 Unrealized holding loss, net of tax 5,000 Retained earnings, beginning balance 500,000 Common stock 300,000 Accumulated Other Comprehensive Income, Beginning Balance 50,000 What would Pitchfork report as total stockholder's equity as of December 31, 20x1? ○ $1,205,000 O $ 955,000 $1,160,000 O $1,060,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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