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How do prepare in good form a statement of shareholders

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Reference no: EM132737553

Presented below is information which relates to Wildhorse Company, a Canadian public corporation traded on the Toronto Stock Exchange, for 2020.

Net income $439,000

Retained earnings, January 1, 2020 795,000

Cash dividends declared on common shares 35,00

0Correction of calculation error depreciation understatement in 2016 (pre-tax) 454,000

Gain on FV-OCI investments (net of tax) 215,000

Proceeds from issuance of Wildhorse common shares 64,000

Accumulated other comprehensive income, January 1, 2020 14,000

  • On January 1, 2020, Wildhorse had 21,000 common shares outstanding with a capital balance of $525,000. During the year, Wildhorse Company issued an additional 2,000 common shares.

Problem 1: Prepare in good form a statement of shareholders equity for the year ended December 31, 2020. Wildhorse's income tax rate is 20%. (Enter expenses and losses using either a negative sign preceding the number e.g. -25 or parentheses e.g. (25).)

Reference no: EM132737553

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