The following select balances are from Muin Co.'s year end 2019 financial statements: Common Shares $700,000 Preferred Shares $370,000 Retained Earnings $380,000 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 $20,500 to preferred shareholders and $12,300 to common shareholders and issued additional common shares in exchange for $58,000 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 year end 2020 Muin Co. Statement of Retained Earnings For the year ended December 31, 2020 Common Retained Earnings - Dec. 31, 2019 Retained Earnings Dec. 31, 2020 Preferred Net Income Dividends (Enter amounts that decrease account balance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Muin Co Statement of Retained Earnings For the year ended December 31, 2020 Commor Preferred Retained Earnings - Dec. 31, 2019 Retained Earnings - Dec. 31, 2020 Net Income Dividends (Enter amounts that decrease account balance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Muin Co Statement of Retained Earnings For the year ended December 31, 2020 Add Less (Enter amounts that decrease account balance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Muin Co Statement of Retained Earnings For the year ended December 31, 2020 Retained Earnings - Dec. 31, 2019 Retained Earnings Dec. 31, 2020 Net Income Dividends Common (Enter amounts that decrease account balance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Muin Co Statement of Retained Earnings For the year ended December 31, 2020 Retained Earnings - Dec. 31, 2020 Common Net Income Dividends Preferred Retained Earnings - Dec. 31, 2019 balance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Muin Co. Statement of Retained Earnings For the year ended December 31, 2020 Retained Earnings - Dec. 31, 2020 Net Income Retained Earnings- Dec. 31, 2019 balance using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Commorn Dividends Muin Co. Muin Co. Statement of Retained Earnings For the year ended December 31, 2020 Retained Earnings - Dec. 31, 2019 Retained Earnings - Dec. 31, 2020 Dividends Preferred Common Net Income unt balance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Muin Co. Statement of Changes in Shareholders' Equity For the year ended December 31, 2020 ommon Shares Preferred Shares Retained Earnings Shareholders' Equity Total Muin Co Statement of Changes in Shareholders' Equity For the year ended December 31, 2020 Common Shares Preferred Shares Retained Earnings Shareholders' Equity Total Balances, December 31, 2020 Balances, December 31, 2019 Dividends Declared Net Income for the Year Issuance of Common Shares Muin Co. Statement of Changes in Shareholders' Equity For the year ended December 31, 2020 Common Shares Preferred Shares Retained Earnings Shareholders' Equity Total Dividends Declared Issuance of Common Shares Balances, December 31, 2019 Balances, December 31, 2020 Net Income for the Year Muin Co. Statement of Changes in Shareholders' Equity For the year ended December 31, 2020 Common Shares Preferred Shares Retained Earnings Shareholders' Equity Total Net Income for the Year Balances, December 31, 2020 Dividends Declared Balances, December 31, 2019 Issuance of Common Shares Muin Co. Statement of Changes in Shareholders' Equity For the year ended December 31, 2020 Common SharesPreferred Shares Retained Earnings Shareholders' Equity Total Net Income for the Year Issuance of Common Shares Balances, December 31, 2019 Balances, December 31, 2020 Dividends Declared Muin Co. Statement of Changes in Shareholders' Equity For the year ended December 31, 2020 Common Shares Preferred Shares Retained Earnings Shareholders' Equity Total Balances, December 31, 2020 Balances, December 31, 2019 Net Income for the Year Dividends Declared Issuance of Common Shares
