Mangrill, Inc

question 127

Essay

Mangrill, Inc. reported net income for the year ending December 31, 2012 of $483,500. Dividends paid during the year totaled $42,900. The company holds available-for-sale securities with an original cost of $162,000 and a fair value of $171,000 at the end of the year. They also hold trading securities with an original cost of $150,000 and a fair value of $147,000. Retained Earnings on January 1, 2012 was $736,400 and Accumulated Other Comprehensive Income on January 1, 2012 was $16,200.
Required:
Calculate the following balances to be reported in the financial statements dated December 31, 2012.
(1) Valuation Allowance for Available-for-Sale securities
(2) Comprehensive Income
(3) Retained Earnings
(4) Accumulated Other Comprehensive Income

---

Definitions:

Hallucinations

Perceptions or sensations experienced without any actual external stimulus, often auditory or visual, and associated with various mental health conditions.

Personality Disorders

Mental disorders characterized by enduring maladaptive patterns of behavior, cognition, and inner experience, exhibited across many contexts and deviating markedly from those accepted by the individual's culture.

General Characteristics

Broad traits or features that can be used to describe a category, group, or type of things or people.

Controversies

Issues that cause public disagreement or debates due to differing opinions and viewpoints.