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Presented below is information which relates to Pharoah Company, a Canadian public corporation traded on the Toronto Stock Exchange, for 2023. Net income Retained earnings,
Presented below is information which relates to Pharoah Company, a Canadian public corporation traded on the Toronto Stock Exchange, for 2023. Net income Retained earnings, January 1, 2023 Cash dividends declared on common shares Correction of calculation error depreciation understatement in 2019 (pre-tax) Gain on FV-OCI investments (net of ta Proceeds from issuance of Pharoah common shares Accumulated other comprehensive income, January 1, 2023 $435,000 820,000 33,000 459,000 202,000 55,000 15,500 On January 1, 2023, Pharoah had 18,000 common shares outstanding with a capital balance of $450,000. During the year, Pharoah Company issued an additional 2.000 common shares. Prepare in good form a statement of shareholders equity for the year ended December 31, 2023. Pharoah's income tax rate is 20%. (Enter amounts that reduce account balances using either a negative sign preceding the number eg.-25 or parentheses es. (25)) Beginning Balance Correction of 2019 Depreciation Understatement. Net of Tax Beginning Balance as Adjusted Net Income Dividends Declared Other Comprehensive Income Issuance of Shares Ending Balance Statement or Shareholders Equity Common Shares Number For the Year Ended December 31, 2023 Common Shares 18,000 $ 2,000
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