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1) 2) 2continued) On December 31, 2018, Fax Company Inc., had the following Shareholder Equity balances: Preferred Shares Common Shares Retained Earnings Contributed Surplus Accumulated

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On December 31, 2018, Fax Company Inc., had the following Shareholder Equity balances: Preferred Shares Common Shares Retained Earnings Contributed Surplus Accumulated Other Comprehensive Income $400,000 $750,000 1,200,000 150,000 75,000 During 2019, the following took place: Fax Company Inc earned net income of $175,000, declared and paid cash dividends in the amount of $45,000 on its common shares. In addition, the company declared a cash dividend in the amount of $30,000 on its preferred shares Also during 2019, XYZ experienced an unrealized foreign exchange gain of $25,000 upon translation of its foreign subsidiary's results. Required In good form, prepare a Statement of Changes in Equity for Fax Company Inc. for 2019. The following Statement of Financial Position for RBZ Corporation has a number of format, classification, and terminology deficiencies. Assume that all the figures are correct. RBZ Corporation Statement of Financial Position As At December 31, 2018 $11,800 ASSETS Current assets: Cash in banks Due from customers & employees Less reserve for uncollectibles Bond sinking fund Inventories Total current assets $9.700 600 15,000 22,320 58,300 Property, plant & equipment: Land & buildings Furniture & fixtures Used property held for sale Total Less accumulated depreciation Total property and equipment 41,000 17.500 4,000 62,500 19.000 43,500 Deferred charges: Unamortized bond discount Supplies on hand Goodwill Total 1,200 2,000 14,000 17,200 Other assets: Treasury stock (at cost) Total assets 5,500 124,500 Equities Liabilities: Accrued bond interest expense Accounts & notes payable Bonds payable Accumulated Other Comprehensive Income Total liabilities $900 21,000 30,000 10,000 61,900 Net with : Common Shares Retained earnings Reserve for bond sinking fund Total net worth Total equities 40,000 7,600 15,000 62,600 124,500 Required List 10 deficiences in the above statement

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