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when resisto systems, inc., was formed, the company was authorized to issue 5,000 shares of $100 par value,
8 percent cumulative preferred stock, and 100,000 shares of $2 stated value common stock.
10
points
half of the preferred stock was issued at a price of $103 per share, and 58,000 shares of the common stock
were sold for $12 per share. at the end of the current year, resisto has retained earnings of $382,000.
a. prepare the stockholders' equity section of the company's balance sheet at the end of the current year.
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stockholders' equity
additional paid-in capital:
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10/25/2019

Exercise 6-2 variable costing income statement; explanation of difference in net operating income [lo6-2] ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $970. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 200 units sold 180 units in ending inventory 20 variable costs per unit: direct materials $ 130 direct labor $ 300 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 63,000 fixed selling and administrative $ 25,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 174,600 cost of goods sold 139,500 gross margin 35,100 selling and administrative expense 27,700 net operating income $ 7,400 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing.