BE1-10 Go Ahead Limited began the year with common shares of $100,000 and retained earnings of $350,000. During Calculate endin the year, it issued an additional $25,000 of common shares, reported a profit of $75,000, and paid dividends of $5,000. balances. (a) Calculate the ending balances of (1) common shares. (2) retained carnings, and (3) total shareholders' equity. (SO 4) (b) Explain how your answer would change if the company had reported a loss of $75,000 rather than a profit. Exercises BET-7 Indicate which statement-income statement (IS), statement of financial position (SFP), statement of changes in equity (SCE), or statement of cash flows (SCF)-you would examine to find each of the following items: (a) Sales revenue (b) Supplies (c) Dividends (d) Cash provided by operating activities (e) Total liabilities Cash used for financing activities Salaries expense (h) Common shares issued during the year