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Please show formulas used: Kaye Biotech Inc. had the following equity account balances at December 31, 2022: On February 1, 2023, 6,200 preferred shares were
Please show formulas used:
Kaye Biotech Inc. had the following equity account balances at December 31, 2022: On February 1, 2023, 6,200 preferred shares were issued at $8.90 each. The board of directors declared and paid the annual cash dividend on the preferred shares on June 30,2023 , and a 15% common share dividend was declared and distributed on the same day when the market price per common share was $4.80. On October 1,2023,22,400 common shares were issued at $4.94 each. Profit earned during 2023 was $420,800. Required: Using the information provided, prepare the statement of changes in equity for the year ended December 31, 2023. (Amounts to be deducted should be indicated by a minus sign.)
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