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Given Data: Taiwan Chips Inc. a manufacturer, showed the following equity information as at December 31, 2018: Taiwan Chips Inc. Equity Section of the Balance
Given Data: | ||||||
Taiwan Chips Inc. a manufacturer, showed the following equity information as at December 31, 2018: | ||||||
Taiwan Chips Inc. | ||||||
Equity Section of the Balance Sheet | ||||||
December 31, 2019 | ||||||
Contributed capital: | ||||||
Preferred share, $4.60 non-cumulative; 100,000 shares authorized | ||||||
75,000 share issued and outstanding A | ||||||
Common shares; unlimited share authorized; | ||||||
E shares issued and outstanding .B | ||||||
Total contributed capital .. $9,000,000 | ||||||
Retained earnings .. C | ||||||
Total equity ....... D | ||||||
Other information: | ||||||
a. The preferred share had sold for an average price of $ 3.00. | ||||||
b. The common share had sold for an average price of $9.00. | ||||||
c. Retained Earnings at December 31, 2017, was $198,000. During 2018, profit earned was $1,928,000. The board of directors declared a total cash dividend of $540,000. | ||||||
Required | ||||||
Calculate A, B, C, D and E. |
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