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The equity section from the December 31, 2020 balance sheet of Kentucky Corporation appeared as follows: 2021 2020 Contributed capital: Common shares, 50,000 shares authorized;
The equity section from the December 31, 2020 balance sheet of Kentucky Corporation appeared as follows:
2021 2020
Contributed capital:
Common shares, 50,000 shares authorized; 23,160 and 21,100 shares issued and outstanding, respectively. $ 509,520 $ 422,000
Retained earnings 563,000 451,000
How many shares were outstanding on each of the cash dividend dates?
1 Jan. 5 Apr. 5 July 5 Oct. 5
Outstanding shares
2 How much profit did the company earn during 2021?
3 Prepare the statement of changes in equity for the year ended December 31, 2021. (Deductible values should be indicated by a minus sign.)
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