Atwood Inc. was reviewing its business activities at the end of its fiscal year (September 30, 2020) and decided to prepare a statement of changes in equity. At the beginning of the year, its assets were $375,000, liabilities were $100,000, and common shares were $200,000. There were no preferred shares. The net income for the year was $120,000. Cash dividends of $20,000 were paid during the year and $5,000 of common shares were issued during the year.

Required:

Prepare a statement of changes in equity, in good form, for Atwood Inc.