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Problem 12-4A Analyzing equity, dividend allocation LO2, 5 Use the information provided below to answer the following questions. Victoria Products Inc. Equity Section of the
Problem 12-4A Analyzing equity, dividend allocation LO2, 5 Use the information provided below to answer the following questions. Victoria Products Inc. Equity Section of the Balance Sheet October 31, 2020 Contributed capital: Preferred shares, $3 non-cumulative; unlimited shares authorized, A shares issued and outstanding Common shares, unlimited shares authorized, 331,000 shares issued and outstanding Total contributed capital Deficit Total equity $ 669,600 $ 3,847,800 Other information: All of the shares were issued during the first year of operations (year ended October 31, 2019). The common shares were issued for an average price of $10.2 per share. . The preferred shares were issued for an average price of $18.6 per share Retained Earnings at October 31, 2019, was $390,000. No dividends had been paid for the year ended October 31, 2020. Required: 1. Calculate A. Number of Preferred shares 36,000 2. Calculate B. Common shares $ 3,376,200 3. Calculate C. Total contributed capital $ 4,045,800 1. Calculate D. Deficit $ 198,000 5. Calculate Profit/Loss for the year ended October 31, 2020. Loss
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