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Create statement of changes in equity for sheffield limited

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Reference no: EM132656315

Sheffield Limited reports the following for 2020: sales revenue, $917,000; cost of sales, $769,000; operating expenses, $101,700; and unrealized gain on FV-OCI investments, $59,200. The company had January 1, 2020 balances as follows: common shares, $400,000; accumulated other comprehensive income, $240,000; and retained earnings, $917,000. The company did not issue any shares during 2020. On December 15, 2020, the board of directors declared a $350,000 dividend payable on January 31, 2021.

Question 1: Create statement of changes in equity. Ignore income tax

Reference no: EM132656315

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