Question

During 2014, Copernicus Corporation held a portfolio of available-for-sale securities having a cost of $185,000. There were no purchases or sales of investments during the year. The market values at the beginning and end of the year were $225,000 and $160,000, respectively. The net income for 2014 was $180,000, and no dividends were paid during the year. The Stockholders’ Equity section of the balance sheet was as follows on December 31, 2013:
Copernicus Corporation
Stockholders’ Equity
December 31,
Common stock ................. $ 50,000
Paid-in capital in excess of par .......... 250,000
Retained earnings................. 340,000
Unrealized gain (loss) on available-for-sale investments.. 40,000
Total..................... $680,000
Prepare the Stockholders’ Equity section of the balance sheet for December 31, 2014.



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  • CreatedFebruary 28, 2014
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