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ILLUSTRATION 4.23 Statement of Changes in Equity GILL SPA STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED DECEMBER 31, 2019 Retained Earnings Accumulated Other Comprehensive Income Share Capital-Ordinary 60,000 300,000 Total 410,000 110,000 (10,000) 50,000 110,000 (10,000) Beginning balance Net income Dividends Other comprehensive income Unrealized holding gain, net of tax Ending balance 30,000 540,000 30,000 90,000 300,000 150,000 ILLUSTRATION 4.24 Presentation of Accumulated Other Comprehensive Income in the Statement of Financial Position GILL SPA STATEMENT OF FINANCIAL POSITION AS OF DECEMBER 31, 2019 (EQUITY SECTION) Equity Share capital-ordinary 300,000 Retained earnings 150,000 Accumulated other comprehensive income 90,000 Total equity 540,000 By providing information on the components of comprehensive income, as well as accumulated other comprehensive income, the company communicates information about all changes in net assets. 19 With this information, users will better understand the quality of the company's earnings. ILLUSTRATION 4.23 Statement of Changes in Equity GILL SPA STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED DECEMBER 31, 2019 Retained Earnings Accumulated Other Comprehensive Income Share Capital-Ordinary 60,000 300,000 Total 410,000 110,000 (10,000) 50,000 110,000 (10,000) Beginning balance Net income Dividends Other comprehensive income Unrealized holding gain, net of tax Ending balance 30,000 540,000 30,000 90,000 300,000 150,000 ILLUSTRATION 4.24 Presentation of Accumulated Other Comprehensive Income in the Statement of Financial Position GILL SPA STATEMENT OF FINANCIAL POSITION AS OF DECEMBER 31, 2019 (EQUITY SECTION) Equity Share capital-ordinary 300,000 Retained earnings 150,000 Accumulated other comprehensive income 90,000 Total equity 540,000 By providing information on the components of comprehensive income, as well as accumulated other comprehensive income, the company communicates information about all changes in net assets. 19 With this information, users will better understand the quality of the company's earnings