Oriole Company had a stockholders' equity balance of $162,100 at the beginning of the period. At the end of the accounting period, the stockholders' equity balance was $198,300. Assuming no additional investment or dividends during the period, what is the net income for the period?

Oriole Company had a stockholders' equity balance of $162,100 at the beginning of the period. At the end of the accounting period, the stockholders' equity balance was $198,300. Assuming no additional investment or dividends during the period, what is the net income for the period?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter3: Review Of A Company's Accounting System

Section: Chapter Questions

Problem 9RE: For the current year, Vidalia Company reported revenues of 250,000 and expenses of 225,000. At the...

See similar textbooks

Similar questions

The following data were taken from the financial statements of Loveseth Inc. for the current fiscal year. Property, plant, and equipment (net) $1,426,600 Liabilities: Current liabilities $205,000 Note payable, 6%, due in 15 years 1,019,000 Total liabilities $1,224,000 Stockholders' equity: Preferred $4 stock, $100 par (no change during $1,224,000 year) Common stock, $10 par (no change during year) 1,224,000 Retained earnings: Balance, beginning of year $1,306,000 Net income 571,000 $1,877,000 Preferred dividends $48,960 Common dividends 196,040 245,000 Balance, end of year 1,632,000 Total stockholders' equity $4,080,000 Sales $27,926,100 Interest expense $61,140
The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $28,000; Liabilities = ?; Common Stock = $5,800; Revenue = $12,600; Dividends = $1,150; Beginning Retained Earnings = $4,150; Ending Retained Earnings = $7,800.What is the amount of liabilities reported on the end-of-period balance sheet ?
The stockholders' equity of Diakovsky Company at the beginning and end of 2021 totaled $119,000 and $136,000, respectively. Assets at the beginning of 2021 were $143,000. If the liabilities of Diakovsky Company increased by $66,000 in 2021, how much were total assets at the end of 2021? Use the accounting equation. OA. $213,000 OB. $209,000 OC. $226,000 O D. $60,000
Assuming a company has net income for the year, the end of year dollar balance in the "Total Stockholders' Equity" column of the statement of stockholders' equity should exactly match which of the following: Select one: a. The total cash balance on the balance sheet b. The total paid-in capital balance on the balance sheet c. The total liabilities balance on the balance sheet d. the total stockholders' equity balance on the balance sheet e. The total assets balance on the balance sheet f. The net income amount on the income statement
The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $36,000; Liabilities = ?; Common Stock = $6,600; Revenue = $14,200; Dividends = $1,550; Beginning Retained Earnings = $4,550; Ending Retained Earnings = $8,600.The amount of liabilities reported on the end-of-period balance sheet was: a. $29,400 b. $27,400 c. $24,850. d. $20,800.
Firm L had net assets at the end of the year of $415,000. The only items affecting stockholders' equity during the year were net income of $76,000 and dividends of $46,000. Required: Calculate Firm L's average stockholders' equity and return on equity (ROE). Choose Addend: Choose Numerator: + 1 Average Stockholders' Equity 1 Choose Addend: /Choose Denominator: Return on Equity 11 = Average Stockholders' Equity Average stockholders' Equity Return on Equity Return on Equity Check my work
If total assets increased by $500,000 during a period and total liabilities increased by $420,000 during the same period, determine the net income (or loss) for the year, assuming no common stock was issued and dividends of $40,000 were paid.
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $11,900 and liabilities of $5,600. During the year, liabilities decreased by $900. Net income for the year was $3,100, and net assets at the end of the year were $7,100. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year.
How is the year-end balance of the NCI in Net Income (NCINI) account calculated? O A) NC1% of S's book/reported net income - NCI's % of Amort of Differential. B) NCI% of S's book/reported net income - NCI's % of Amort of Differential - NCI's% of S's dividends. C) NCI% of S's book/reported net income + NCI's % of Amort of Differential. D) NC1% of S's book/reported net income - NCI's % of Amort of Differential + NCI's% of S's dividends.
the income statement for Stretch-Tape Corporation reports net sales of $439,900 and net income of $54,780. Average total assets for the year are $830,000. Stockholders’ equity at the beginning of the year was $530,000, and $23,000 was paid to stockholders as dividends during the year. There were no other stockholders’ equity transactions that occurred during the year.Required:Calculate the return on assets, profit margin, asset turnover, and return on equity ratios. (Round your answers to 1 decimal place.) Profitability Ratios Return on assets 6.6 % Profit margin 12.5 % Asset turnover times Return on equity %
am.104.
At the beginning of the year, Martinez Company had total assets of $968,000 and total liabilities of $581,000. Answer the following questions. Please note that the scenarios given below are independent. (a) If total assets increased $171,000 during the year and total liabilities decreased $62,000, what is the amount of stockholders' equity at the end of the year? Stockholders' equity $