Reference no: EM132591650
The following information was avaliable about helper industries on Dec 31,2016
Contirbuted Capital
Preferred shares $2.00 cumulative. 50,000 shares authorized, 32,000 shares issued and outstanding 2,900,000
Common shares. unlimited shares authorized 460,000 issued and outstanding 2,687,500
Total contributed Capital 5,587,500
Retained earning 870,000
Total equity 6,457,500
There was 78000 common shares issued during 2017 and $6.50 per share. Also during 2017, cash dividends declared and paid totaled $520,000 and net income was 800,000
Required
Question 1: Prepare statement of changes in equity for the year ended Dec 31,2017.
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