Prepare statement of changes in equity for year ended dec

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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.

Reference no: EM132591650

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