NEED THE STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY COMPLETED AT THE BOTTOM - THANK YOU!
Oriole Shop Ltd. is a mid-sized public company that had been in operation for many years. On December 31,2023 , it had an unlimited number of common shares authorized and 5.4 million shares issued at an average value of $26 per share. As well, there were 5.2 million preferred shares authorized, with 260,000 of them issued at $18 per share. The balance in retained earnings was $26,740,000 The balance in accumulated other comprehensive income was $531,000. The preferred shares pay an annual dividend of $2 per share During 2024, the following transactions affected shareholders' equity: 1. In total, 230,000 new common shares were issued at $31 per share. 2. The preferred dividend for the year was declared and paid. 3. A 10% common stock dividend was declared when the market price was $33 per share. The shares were distributed one month after the declaration. 4. In early December 2024, a dividend of $1.50 per share was declared on the common shares. The date of record was December 15, 2024. The dividend was to be paid the following year. 5. The company earned net income of $14,900,000 and had an other comprehensive loss of $150,000. 6. On December 31, 2024, the company declared a two-for-one stock split on common shares. Dec. 31,2023 common shares 1. Issued common shares 2. Preferred share dividends 3. 10% stock dividend on common shares 4. Common share dividend 5a. Net income for year 5b. Other comprehensive (loss) for year 6. Two-for-one stock split on common shares Dec. 31, 2024 Number of preferred Shares 260000 Preferred shares $4680000 Retained earnings 18579000 9289500 14900000 $ 13251500 Accumulated other comprehensive income Total $531000 $172351000 \begin{tabular}{|l|l|} \hline & i \\ \hline \end{tabular} 7130000 520000 0 \begin{tabular}{|l|l|} \hline & i \\ \hline \end{tabular} 9289500 \begin{tabular}{|l|l|} \hline & i \\ \hline \end{tabular} 14900000 150000 150000 \begin{tabular}{|c|c|} \hline & i \\ \hline$ & 381000 \\ \hline \end{tabular} $ 184421500 Prepare the statement of changes in shareholders' equity for 2024. (Hint: the statement of changes in shareholders' equity will be similar to the table from part (a) but similar transactions, such as dividends, will be grouped into one line.) (If an amount reduces the account balance then enter with negative sign, e.g. 15,000 or in parenthesis, e.g. (15,000).) Oriole Shop Ltd. Statement of Changes in Shareholders' Equity Number of common shares Number of preferred shares Dec. 31, 2023 Common shares $ Common shares issued Cash dividends Stock dividend - common shares Net income Other comprehensive loss Stock split on common shares Dec. 31, 2024 Accumulated other Preferred shares $ Retained earnings $ $ comprehensive income Total $ $
