a

b

c

Blossom Corporation reported the following selected information for the two years ended December 31: 2021 2020 Total assets $642,600 $561,000 Total liabilities 428,400 408,000 (a) Your answer is correct. Calculate total shareholders' equity at December 31, 2020 and 2021. 2020 2021 Total shareholders' equity $ 153000 $ 214200 Blossom's shareholders' equity consists only of common shares and retained earnings. Using the change in total shareholders' equity calculated in the above part, calculate the net income or loss for the year ended December 31, 2021, assuming each of the following independent scenarios: 1. Blossom issued no common shares during the year and did not declare any dividends. Net income or loss $ 2. Blossom issued no common shares during the year and declared and paid dividends of $10.200. Net income or loss $ 3. Blossom issued $30,600 of additional common shares during the year and did not declare any dividends. Net income or loss $ 4. Blossom issued $20,400 of additional common shares during the year and declared and paid dividends of $10.200. Net income or loss $ Ivanhoe, Inc. has the following financial information as at December 31, 2021: Camping revenue $ 305,640 Cash 20,520 Equipment 133,920 17.820 Accounts payable Bank loan payable Income tax expense 54.000 10,800 Dividends declared 12.960 Operating expenses 264,600 Supplies 2,700 Common shares, Jan. 1 32,400 Common shares issued during year 16,200 Retained earnings, Jan, 1 19,440 Prepare a statement of changes in equity for the year. (If an amount reduces the account balance then enter with negative sign e.g. -45 or parentheses e.g. (45).) IVANHOE INC. Statement of Changes in Equity Common Shares Retained Earnings Total Equity 2 . $ $ $ Oriole Limited reports the following selected asset, liability, and shareholders' equity accounts, in alphabetical order: $ 17,160 14,410 35.200 10,285 22.000 Accounts payable Accounts receivable Bank loan payable Cash Common shares Deferred revenue Equipment Income tax payable Intangible assets Interest payable Inventory 1.980 33,550 1.980 5,500 330 10,120 Prepaid insurance 1.100 23,375 Retained earnings Salaries payable 770 Supplies 3,080 Vehicles 24.750 Oriole's retained earnings were $ 19,800 at the beginning of the year. The company reported revenues of $ 326,425, expenses of $ 306,350, and dividends declared of $ 16,500 during the year. Prepare a calculation that proves how retained earnings of $ 23,375 at the end of the year were determined. Beginning balance in Retained Earnings $ $ Revenues Expenses Dividends declared Ending balance in Retained Earnings