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Calculate shareholders equity accounts including retained

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Cash dividends declared on the no par value common shares of Athens Corp. were as follows:

1st quarter of 2020 $ 330,000

2nd quarter of 2020 350,000

3rd quarter of 2020 420,000

4th quarter of 2020 450,000

The 4th quarter cash dividend was declared on December 20, 2020, to shareholders of record on December 31, 2020, to be paid on January 9, 2021. In addition, Athens declared a 10% common stock dividend on December 1, 2020, when there were 400,000 shares issued and outstanding, and the market value of the common shares was $ 16 per share. The shares were issued on December 21, 2020.

Problem 1: Calculate the shareholders' equity accounts including retained earnings during 2020 as a result of the above transactions.

Reference no: EM132835324

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