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Complete the basic Statement of Changes in Equity for this company, below, by filling in the missing amount beside each arrow >. We are assuming

  1. Complete the basic Statement of Changes in Equity for this company, below, by filling in the missing amount beside each arrow >. We are assuming that this is the companys first year of business, therefore beginning balances in common shares and retained earnings is zero.

Statement of Changes in Equity

For year-ended December 31, 2019

Common Shares

Retained Earnings

Opening balance, January 1

$0

$0

Issue Common Shares

80,000

Paid Dividends

>

Net Income or Profit

>

Closing balance, December 31

$ 80,000

>

Once the balance sheet is completed, fill in the missing amount and account name in the Equity Section, so that your balance sheet balances. Retained earnings were $39,500

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