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Prepare the shareholder's equity section of the statement of financial position as at December 31, 2024. Ivanhoe Observation Inc. on May 1, 2024, and was
Prepare the shareholder's equity section of the statement of financial position as at December 31, 2024.
Ivanhoe Observation Inc. on May 1, 2024, and was authorized to issue 500,000 common shares and 100,000 5\%, non-participating, convertible preferred shares. During the remainder of 2024 , the company entered into the following transactions: 1. Issued 32,000 common shares in exchange for $640,000. 2. Issued 5,000 preferred shares in exchange for $70,000. 3. Repurchased 3,000 common shares for $25.00 per share in the open market. The company entered into no other transactions that affected shareholders' equity during 2024. Ivanhoe Observation Inc. generated $758,000 in net income in 2024 and did not declare any dividends that year. Prepare the shareholders' equity section of the statement of financial position as at December 31, 2024. Current Assets Current Liabilities Intangible Assets Long-Term Investments Long-Term Liabilities Net Income / (Loss) Property, Plant, and Equipment Share Capital Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-Term Investments Total Long-Term Liabilities Total Property, Plant, and Equipment Total Share Capital Total Stockholders' Equity
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