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The following is a summary of all relevant transactions of Swifty Corporation since it was organized in 2022. In 2022, 13,900 shares were authorized and
The following is a summary of all relevant transactions of Swifty Corporation since it was organized in 2022. In 2022, 13,900 shares were authorized and 7,700 ordinary shares ($50 par value) were issued at a price of $57. In 2023, 1,100 shares were issued as a share dividend when a share was selling for $61.290 ordinary shares were bought in 2024 at a cost of $65 per share. These 290 shares are still in the company treasury. In 2023,9,900 preference shares were authorized and the company issued 5,100 of them ($100 par value) at $116. Some of the preference shares were reacquired by the company and later reissued for $4,820 more than it cost the company. The corporation has earned a total of $584,800 in net income and paid out a total of $337,300 in cash dividends since incorporation. Prepare the equity section of the statement of financial position in proper form for Swifty Corporation as of December 31, 2024. Account for treasury shares using the cost method. (Enter account name only. Do not provide descriptive information.) SWIFTY CORPORATION Partial Statement of Financial Position December 31, 2024 Equity Share Capital-Preference $ Share Capital-Ordinary $ Share Premium-Preference $ Share Premium-Ordinary Share Premium-Treasury Retained Earnings Less Treasury Shares Total Equity $
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