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Presented below is information which relates to Sandhill Company, a Canadian public corporation traded on the Toronto Stock Exchange, for 2020. Net income Retained earnings,
Presented below is information which relates to Sandhill Company, a Canadian public corporation traded on the Toronto Stock Exchange, for 2020. Net income Retained earnings, January 1, 2020 Cash dividends declared on common shares Correction of calculation error depreciation understatement in 2016 (pre-tax) Gain on FV-OCl investments (net of tax) Proceeds from issuance of Sandhill common shares Accumulated other comprehensive income, January 1, 2020 $449,000 785,000 35,000 471,000 207,000 56,000 17,000 On January 1, 2020, Sandhill had 22,000 common shares outstanding with a capital balance of $550,000. During the year, Sandhill Company issued an additional 2,000 common shares. Prepare in good form a statement of shareholders equity for the year ended December 31, 2020. Sandhill'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).) Sandhill Company Statement of Shareholders' Equity Common Shares Number Accumulated Other Comprehensive Income Common Shares Retained Earnings Total $ $ $ $ $ $ $ $
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