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Make statement of changes in equity for abc inc

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Reference no: EM132703365

On January 1st , 2010, ABC Inc., a publicly traded company, had the following Shareholder Equity balances:

Common Shares $500,000

Retained Earnings $800,000

Contributed Surplus $100,000

Accumulated Other Comprehensive Income $50,000

During 2010, the following took place:

  1. ABC Inc earned net income of $120,000 and paid cash dividends in the amount of $20,000.
  2. In addition, the company declared a stock dividend in the amount of $50,000.
  3. Also during 2010, ABC experienced an unrealized foreign exchange gain of $50,000 upon translation of its foreign subsidiary's results.

Required:

Problem1 : Make Statement of Changes in Equity for ABC Inc. for 2010.

Reference no: EM132703365

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