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Blue Spruce Umbrella Corporation had the following balances at December 31, 2019 (all amounts in thousands): preferred shares, $ 3.045; common shares, $ 7,712; contributed
Blue Spruce Umbrella Corporation had the following balances at December 31, 2019 (all amounts in thousands): preferred shares, $ 3.045; common shares, $ 7,712; contributed surplus, $3,354; retained earnings, $ 20,049; and accumulated other comprehensive income, $ 1,982. During the year ended December 31, 2020, the company earned net income of $ 6,429,000, generated an unrealized holding gain on FV-OCI investments of $ 503,000, sold common shares of $257,000, and paid out dividends of $30,000 and $20,000 to preferred and common shareholders, respectively. Gains/losses on FV-OCl investments are not recycled through net income. (a1) Prepare a statement of changes in equity for the year ended December 31, 2020. (Enter amounts in thousands. Round answers to O decimal places, e.g. 5,275.) Preferred Shares Common Shares Contributed Surplus Beginning Balance $ $ Comprehensive Income: Net Income Other comprehensive income Unrealized Holding Gain Dividends to shareholders: Preferred Common Issue of Common shares Ending Balance $ Prepare the shareholders' equity section of the Blue Spruce Umbrella Corporation balance sheet as at December 31, 2020. (Enter amounts in thousands. Round answers to 0 decimal places, eg. 5,275.)
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