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Selected 2 0 2 1 balances of GNT Industries were made available as below. Accumulated other comprehensive income ( loss ) , January 1 (
Selected balances of GNT Industries were made available as below.
Accumulated other comprehensive income loss January
$
Common shares, January issued and outstanding
$
Cost of goods sold
$
Longterm debt
$
Other comprehensive income
$
Other operating expenses
$
Preferred shares, January issued and outstanding
$
Retained earnings, January
$
Revenues
$
On March GNT declared and distributed a stock dividend, which resulted in the distribution of common shares with a market value of $ On September GNT spent $ per share to repurchase and cancel common shares. On December GNT declared and paid a total cash dividends of $ There is no dividend in arrears as at January For the year ended December GNT reported $ net income.
Required
Determine the balance of each shareholders equity account as at December for GNT Industries. Clearly present calculations for numbers that are not given
Determine the respective amount of cash dividends paid to preferred shares and common shares during Clearly present calculations for numbers that are not given
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