Solved: Unrealized holding loss available for sale securities net, Accounting Basics

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Unrealized holding loss available for sale securities net

Problem - For the year ended December 31, 2013, a company responded to the following:

Net income $180,000

Preferred stock dividends declared $30,000

Common stock dividend declared $6,000

Unrealized holding loss (available for sale securities), net of tax $3,000

Retained earnings, beginning balance $240,000

Common stock $120,000

Accumulated OCI, beginning balance $15,000

Note: OIC = Other Comprehensive Income

What should the company report as the ending balance of Retained Earning?

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