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plzz help with this question Man Cell CLICK HERE TO SAVE YOUR WORK C E 1 Question: Shareholders' Equity (10 marks) 2 3 4 5
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Man Cell CLICK HERE TO SAVE YOUR WORK C E 1 Question: Shareholders' Equity (10 marks) 2 3 4 5 Pharma Shop Ltd. Is a mid-sized public company that had been in operation for many years. On December 31, 2019, it had unlimited number of common shares authorized and 5.2 million shares issued at an average value of $25 per share. As well, there were 5 million preferred shares authorized, with 250,000 of them issued at $20 per share. The balance in retained earnings was $26,610,000. The balance in accumulated other comprehensive income was $525,000. The preferred shares pay an annual dividend of $2 per share. During 2020, the following transactions affected shareholder's equity: 6 7 1. In total, 200,000 new common shares were issued at $30 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 2020, a dividend of $1.50 per share was declared on the common shares. The date of record was December 15, 2020. The dividend will be paid the following year. 5. The company earned a net income of $14,820,000 and had an other comprehensive loss of $145,000 6. On December 31, 2020, the company declared a two-for-one stock split on common shares. 18 19 Using the table below, track all the changes in the shareholders' equity account for 2020. Total the amounts (10 marks) 20 wwwm ted other comprehe # # of nsive Common Common preferred Preferred Retained Shares shares shares shares earnings income Total Date New.... 13 15 16 14 17 10 12 8 9 11 Sheet1 Step by Step Solution
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