PLEASE PREPARE THE SHAREHOLDER'S EQUITY SECTION OF THE STATEMENT OF FINANCIAL POSITION AT THE END - 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. Date Dec. 31, 2023 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 Number of preferred Shares 260000 \begin{tabular}{|l|l|} \hline & i \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline & i \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline & i \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline & i \\ \hline \end{tabular} Preferred shares $4680000 \begin{tabular}{|l|l|} \hline & i \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline & i \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline & i \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline & i \\ \hline \\ \hline & i \\ \hline \end{tabular} $ 4680000 Retained earnings $ 26740000 520000 18579000 9289500 14900000 \begin{tabular}{|l|l|} \hline \\ \hline \end{tabular} $ 13251500 Accumulated other comprehensive income $531000 150000 Total 7130000 520000 0 9289500 14900000 150000 Oriole Shop Ltd. Statement of Changes in Shareholders' Equity Year Ended December 31, 2024 \begin{tabular}{|c|c|c|c|} \hline & \begin{tabular}{c} Number of \\ common \\ shares \end{tabular} & \multicolumn{2}{|c|}{ Common shares } \\ \hline Dec. 31, 2023 & 5400000 & $ & 140400000 \\ \hline Common shares issued & 230000 & & 7130000 \\ \hline Cash dividends & i & & i \\ \hline Stock dividend - common shares & 563000 & & 18579000 \\ \hline Net income & i & & i \\ \hline Other comprehensive loss & i & & i \\ \hline Stock split on common shares & 6193000 & & i \\ \hline Dec. 31, 2024 & 12386000 & $ & 166109000 \\ \hline \end{tabular} Number of preferred shares Preferred Retained shares earnings 260000 $ 4680000 $ 26740000 9809500 18579000 \begin{tabular}{|r|} \hline-18579000 \\ \hline 14900000 \\ \hline \end{tabular} \begin{tabular}{|r|} \hline \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular} Accumulated other comprehensive income Total $ 531000 \begin{tabular}{|l|l|} \hline & i \\ \hline \end{tabular} \begin{tabular}{|l|l} \hline & i \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline & i \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline & i \\ \hline \end{tabular} 150000 $ 172351000 \begin{tabular}{|r|} \hline 7130000 \\ \hline-9809500 \\ \hline \end{tabular} 0 14900000 150000 $ 184421500 Prepare the shareholders' equity section of the statement of financial position as at the end of 2024. Oriole Shop Ltd. Statement of Financial Position (Partial) $ $
