Common shares, 500,000 shares authorized, 250,000 shares issued. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$675,000

Retained earnings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

650,000

$1,325,000

a.
Declared and issued a 6 percent stock dividend on the outstanding shares. At the time, Mountain Air Mall shares were quoted at a market price of $8 per share.

b.
Issued 20,000 common shares at the price of $15 per share.

c.
Net income for the year, $370,000.

d.
Declared cash dividends of $140,000.

Mountain Air Mall Inc. Statement of Changes in Shareholders' Equity For the Year Ended December 31, 2020 Common Retained Shares Earnings Total Balance Dec. 31, 2019 Stock dividend Issuance of common shares Net income Cash dividends Balance Dec. 31, 2020

Question

Common shares, 500,000 shares authorized, 250,000 shares issued. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$675,000
Retained earnings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	650,000
	$1,325,000

a.	Declared and issued a 6 percent stock dividend on the outstanding shares. At the time, Mountain Air Mall shares were quoted at a market price of $8 per share.
b.	Issued 20,000 common shares at the price of $15 per share.
c.	Net income for the year, $370,000.
d.	Declared cash dividends of $140,000.

image text in transcribed

Mountain Air Mall Inc. Statement of Changes in Shareholders' Equity For the Year Ended December 31, 2020 Common Retained Shares Earnings Total Balance Dec. 31, 2019 Stock dividend Issuance of common shares Net income Cash dividends Balance Dec. 31, 2020

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Question

Common shares, 500,000 shares authorized, 250,000 shares issued. . . . . . . . . . . . . . . . . .

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