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Presented below is information which relates to Sunland Company, a Canadian public corporation traded on the Toronto Stock Exchange, for 2020. Net income $435,000 Retained
Presented below is information which relates to Sunland Company, a Canadian public corporation traded on the Toronto Stock Exchange, for 2020. Net income $435,000 Retained earnings, January 1, 2020 810,000 Cash dividends declared on common shares 33,000 Correction of calculation error depreciation understatement in 2016 (pre-tax) 471,000 Gain on FV-OCI investments (net of tax) 209,000 Proceeds from issuance of Sunland common shares 65.000 Accumulated other comprehensive income, January 1, 2020 18,000 On January 1, 2020, Sunland had 22,000 common shares outstanding with a capital balance of $550,000. During the year, Sunland Company issued an additional 2,000 common shares. Prepare in good form a statement of shareholders equity for the year ended December 31, 2020. Sunland'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).) Sunland Company Statement of Shareholders' Equit Common Shares Number Common Shares $ Beginning balance Issuance of shares Beginning balance as adjusted Net income Other comprehensive income Ending balance Dividends declared Correction of 2016 depreciation understatement, net of tax $
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