The equity sections from the 2017 and 2018 balance sheets of Fab-Form Industries Inc. appeared as follows:

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The equity sections from the 2017 and 2018 balance sheets of Fab-Form Industries Inc. appeared as follows:image


On March 16, June 15, September 5, and November 22, 2018, the board of directors declared $0.20 per share cash dividends on the outstanding common shares. On October 14, 2018, 19,200 additional common shares were issued.



Required 


Under the assumption that there were no transactions affecting retained earnings other than the ones given, determine the 2018 profit (loss) of Fab-Form Industries Inc. Show your calculations.

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Related Book For  book-img-for-question

Fundamental Accounting Principles Volume 2

ISBN: 9781259087363

15th Canadian Edition

Authors: Kermit Larson, Heidi Dieckmann

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