Prepare a statement of changes in equity

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Problem - Atwood Inc. was reviewing its business activities at the end of its ?scal year (September 30, 2020) and decided to prepare a statement of changes in equity. At the beginning of the year, its assets were $375,000, liabilities were $100,000, and common shares were $200,000. There were no preferred shares. The net income for the year was $120,000. Cash dividends of $20,000 were paid during the year and $5,000 of common shares were issued during the year.

Required - Prepare a statement of changes in equity, in good form, for Atwood Inc.

Reference no: EM132678285

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