20 min fast

QS 13-6 Analymg retained earnings LO The Retained Earnings account for Callaho Inc is shown below. Retained Eamlogs 50,000 120,00 300,000 M Dec 19 1 Calculate X 230,000 2 What does X represent? Amount eamed during fiscal year 3 What caused the debit of $50,000? 1 Page 730 QS 13-7 Preparing a statement of changes in equity 102 Fisher Inc. began operations on January 1, 2014. During its first year, $750,000 of common shares were issued and a net loss of $28,000 was realized. In 2015, Fisher's second year of operations, an additional $125,000 of common shares were issued a net income of $148,000 was realized, and dividends of $40,000 were declared and paid. Prepare a statement of changes in equity for the year ended December 31, 2015