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Presented below are data for Oriole Company 2020 2021 Assets, January 1 $8858 $9725 Liabilities, January 1 4861 ? Stockholders' Equity, Jan
Presented below are data for Oriole Company
2020 2021
Assets, January 1 $8858 $9725
Liabilities, January 1 4861 ?
Stockholders' Equity, Jan. 1 ? ?
Dividends 1630 1223
Common Stock 1449
1288
Stockholders' Equity, Dec. 31 ? ?
Net Income 1925 1306
Stockholders' Equity at January 1, 2021 is
$4292.
$5922.
$5741.
$3997.
Expert Solution
Stockholder's equity January 1, 2021 = $4,292
See working below.
Step-by-step explanation
Step 1, calculation of stockholder's equity as at January 1, 2020
Assets, January 1, 8,858
Less liabilities January 1, 4,861
Stockholder's equity January 1, 3,997
Step 2, Calculation of stockholder's equity as at January 1, 2021
Stockholder's equity January 1, 3,997
Add net income for 2020, 1,925
Total (3,997 + 1,925), = 5,922
Less dividends, 1,630
Stockholder's equity January 1, (5,922 - 1,630) = 4,292
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