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Presented below is information which relates to Ivanhoe Company, a Canadian public corporation traded on the Toronto Stock Exchange, for 2020. Net income $444,000 Retained
Presented below is information which relates to Ivanhoe Company, a Canadian public corporation traded on the Toronto Stock Exchange, for 2020. Net income $444,000 Retained earnings, January 1, 2020 815.000 Cash dividends declared on common shares 33,000 Correction of calculation error depreciation understatement in 2016 (pre-tax) 461,000 Gain on FV-OCl investments (net of tax) 206.000 Proceeds from issuance of Ivanhoe common shares 61,000 Accumulated other comprehensive income, January 1, 2020 14,500 On January 1, 2020, Ivanhoe had 21,000 common shares outstanding with a capital balance of $525,000. During the year, Ivanhoe Company issued an additional 2,000 common shares. Prepare in good form a statement of shareholders equity for the year ended December 31, 2020. Ivanhoe's income tax rate is 20%. (Enter expenses and losses using either a negative sign preceding the number e.g.-25 or parentheses e.g. (25).) Ivanhoe Company Statement of Shareholders' Equity For the year ended December 31, 2020 V Common Shares Number Accumulated Other Comprehensive Income Common Shares Retained Earnings Total Beginning balance $ $ Issuance of shares Net income Dividends declared Correction of 2016 depreciation understatement, net of tax
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