For the year ended December 31, 2020, Cullumber Company reported the following: Net income $305000 Preferred dividends declared 50500 Common dividend declared 9100 Unrealized holding loss, net of tax 4800 Retained earnings, beginning balance 420000 Common stock 199400 Accumulated Other Comprehensive Income, Beginning Balance 24400 What would Cullumber report as the ending balance of Retained Earnings

$665,400

Explanation:

The ending retained earnings are computed by taking the beginning retained earnings alongside the net income for the year while adjusting for both common and preferred stocks dividends

The ending retained earnings=beginning retained earnings+Net income-Preferred dividends-Common dividends

Unrealized holding loss would only have an impact on Accumulated Other Comprehensive Income.

The ending retained earnings=420000+305000-50500-9100

The ending retained earnings=$665,400

balance in Accumulated Other Comprehensive Income=24400-4800=$19,600

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i believe the answer is: streets and roads

public property refers to the property that can be used by all legal citizens in a certain country. the public property was created and maintain using the government budget that allocated specifically for it. the budget itself come from the citizen's income tax payment.