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The following select balances are from Muin Co's year end 2019 financial statements: Common Shares $570,000 Preferred Shares $400,000 Retained Earnings $350,000 At the end
The following select balances are from Muin Co's year end 2019 financial statements: Common Shares $570,000 Preferred Shares $400,000 Retained Earnings $350,000 At the end of 2020 the company had earned net income of $134.000 and during the year they had paid dividends in the amount of $23,700 to preferred shareholders and $12,100 to common shareholders and issued additional common shares in exchange for $59.700 in cash. The company's year end is December 31. Prepare a statement of Retained Earnings and a Statement of Changes in Shareholders Equity for Muin Co, for the yearend 2020. a Muin Co. Statement of Retained Earnings For the year ended December 31, 2020 $ $ $ Muin Co. Statement of Changes in Shareholders' Equity For the year ended December 31, 2020 Common Shares Preferred Shares Retained Earnings $ $
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