Question 5 (b1)

Current Attempt in Progress Sea Surf Resorts, Inc. has the following financial information as at December 31, 2021: Camping revenue $283,000 Cash 19,000 Equipment 124.000 Accounts payable 16,500 Bank loan payable 50,000 10,000 Income tax expense Dividends declared Operating expenses 12,000 245.000 Supplies 2,500 30,000 Common shares, Jan. 1 Common shares issued during year 15,000 Retained earnings, Jan. 1 18,000 SEA SURF RESORTS INC. Statement of Changes in Equity Common Shares Retained Earnings Total Equity $ C