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    Nov 3, 2012, 12:02 PM
    Prepare a statement of changes in equity question
    Please help! I can't figure out how to compute Dec 31, 2010 retained earnings in order to prepare a statement of changes in equity.

    QUESTION:

    Your Company reports the following for 2010:

    Net income $50,000
    Unrealized holding loss on securities through Other Comprehensive Income for 2010 of $60,000

    For January 1, 2010, the company's balances are as follows:
    Common shares of $600,000;
    Accumulated other comprehensive income of $250,000;
    Retained earnings of $900,000.

    On December 15, 2010, the board of directors declared a $300,000 dividend payable January 31, 2011.

    Prepare a statement of changes in equity.

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