Collirs Inc. has the following accounts and account activity as of 30 June 20X5: Other information, not

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Collirs Inc. has the following accounts and account activity as of 30 June 20X5:

Other information, not included in above accounts:
1. Dividends of $205,000 were declared on 14 June 20X5. The last time dividends were declared and paid was on 14 June 20X3.
2. 16,700 common shares were retired for $18 per share. The average issuance price was $16.50 per share.


Required:
1. Calculate the total comprehensive income for the period ended 30 June 20X5.
2. Calculate the ending retained earnings.
3. Prepare the shareholders’ equity section of the SFP.

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Related Book For  book-img-for-question

Intermediate Accounting Volume 2

ISBN: 9781260881240

8th Edition

Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka, Romi-Lee Sevel

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