Business, 23.11.2019 03:31 mehokkj

The income statement for delta-tec inc. for the year ended december 31, year 2, was as follows:
income from operations $299,700
gain on sale of investments 17,800
unrealized loss on trading investments (72,500)
net income $245,000
the balance sheet dated december 31, year 1, showed a retained earnings balance of $825,000. during year 2, the company purchased trading investments for the first time at a cost of $346,000. in addition, trading investments with a cost of $66,000 were sold at a gain during year 2. the company paid $65,000 in dividends during year 2.

a. determine the december 31, year 2, retained earnings balance.
b. provide the december 31, year 2, balance sheet disclosure for trading investments

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The income statement for delta-tec inc. for the year ended december 31, year 2, was as follows: