Question
A4-7 Statement of Changes in Equity: On 31 December 20X2, the balances of Argon Enterprises Inc.s shareholders equity accounts were as follows (all are credit
A4-7 Statement of Changes in Equity: On 31 December 20X2, the balances of Argon Enterprises Inc.s shareholders equity accounts were as follows (all are credit balances): Capital stock $303,000 Contributed surplus 6,000 Retained earnings 121,000 Currency translation differences 1,500 Mark-to-market adjustments on available for sale investments 28,600 Cash flow hedges 2,100 Actuarial gains and losses 1.600 $463,800 Argons statement of comprehensive income for the year ending 31 December 20X3 showed the following amounts, from net profit for the year through comprehensive income: 31 December 20X3 31 December 20X2 Net profit for the year $ 46,900 $ 62,100 Other comprehensive income (loss) net of applicable income tax: Currency translation differences (4,500) 2,500 Mark-to-market adjustments on available for sale investments (36,800) 7,200 Actuarial gains (losses) 2,100 (5,900) Cash flow hedges (500) (150) Total other comprehensive loss for the year $(39,700) $ 3,650 Comprehensive income for the year $ 7,200 $65,750 Required: Prepare a statement of changes in equity for Argon Enterprises Inc. for the year ended 31 December 20X3. The company declared no dividends during either 20X2 or 20X3.
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