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Benson Inc. had the following balances in its equity accounts at December 31, 2023. Common shares, unlimited shares authorized, 95,000 shares issued, and outstanding Retained
Benson Inc. had the following balances in its equity accounts at December 31, 2023. Common shares, unlimited shares authorized, 95,000 shares issued, and outstanding Retained earnings. $1,710,000 285,000 During 2024, the following equity transactions occurred: a. January 19 : A 10\% share dividend was declared when the market value was $19 per share, to be paid on November 24 . b. April 16 : The board of directors declared a 3:1 share split on this date. c. November 24 : Date of distribution regarding the 10% share dividend. d. December 31 : Closed the dividend account. e. December 31 : Closed the Income summary account. A net income of $130,000 was recorded. b) Prepare the company's statement of changes in equity for the year ended December 31, 2024. Please make sure your final answer(s) are accurate to the nearest whole number. c) Prepare the company's equity section of the balance sheet for the year ended December 31,2024 . Please make sure your final answer(s) are accurate to the nearest whole number. Benson Inc. Equity Section of the Balance Sheet December 31, 2024 Contributed capital Common shares, unlimited shares authorized: shares issued and outstanding. Retained earnings Total equity
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