Question
The following is selected financial information for D. Kay Dental Laboratories for 2020 and 2021: 2020 2021 Retained earnings, January 1 $ 59,000 ? Net
The following is selected financial information for D. Kay Dental Laboratories for 2020 and 2021:
| 2020 | 2021 | ||||
| Retained earnings, January 1 | $ | 59,000 | ? | ||
| Net income | 43,000 | 48,000 | |||
| Dividends declared and paid | 21,000 | 24,000 | |||
| Common stock | 76,000 | ? | |||
Kay issued 2,600 shares of additional common stock in 2021 for $26,000. There were no other shareholder transactions. Required: Prepare a statement of shareholders' equity for D. Kay Dental Laboratories for the year ended December 31, 2021.
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Principles Of Corporate Finance
Authors: Richard A Brealey, Stewart C Myers, Franklin Allen
8th Edition
0073130826, 9780073130828
