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Fargo Inc. showed the following profit statement information for its first three years of operations: For the Years Ended December 31 2021 Net Sales $6,480,
Fargo Inc. showed the following profit statement information for its first three years of operations: For the Years Ended December 31 2021 Net Sales $6,480, eee Cost of Goods Sold 3,780, ee Operating Expenses 2,830,000 Other Revenues (Expenses) (256, eee) Income Tax Expense 87, eee 2020 $5,480, eee 3,180, ee 1,930,000 (276, eee) 23, eee 2019 $4,400, eee 2,350, eee 1,530,000 57, eee 127,000 Partial information regarding Fargo's equity for the past three years follows: Dec. 31, 2021 Dec. 31, 2020 Dec. 31, 2019 $470,000 $ 470,eee $470, eee Contributed capital Preferred shares, $2 non-cumulative; 180,8ee shares authorized; 27,eee shares issued and outstanding Common shares, 580, see shares authorized; 179,088* shares issued and outstanding Total contributed capital Retained earnings Total equity 620, eee ? ? 3 620, eee ? ? ? 620,880 ? ? > *Issued on January 1, 2019. ** Cash dividends of $163.000 were declared and paid for the year ended Dec 31, 2019. Dividends were not declared for the years ended Dec. 31, 2020, or Dec. 31, 2021. Required: 1. Calculate Gross Profit, Operating Profit, Profit Before Tax, and Profit for the years ended December 31, 2019, 2020 and 2021. 2021 2020 2019 Gross profit Operating Profit Profit Before Tax Profit 2, 3 & 4. Calculate Contributed Capital. Retained Earnings and Total Equity as at December 31, 2019, 2020, and 2021. FARGO INC Equity Section of the Balance Sheet for 31 December, 2019, 2020 & 2021. 2021 2020 2019 Contributed Capital: Total contributed capital Total equity
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