we yeit ended December 31, 2017 Problem 14-9A ness and At Art Motion Inc. specializes in truck tires and had the followi tires and had the following shareholders equity on January 1, 2017: Accounting for stock dividends, stock splits, and errors from a prior period, preparing a com- bined statement of income and retained earnings: calculating earnings per share O 2. Net income $730,600 hostile huge 44 Requir 1. As a to th fort $1,500,000 Preferred shares, $2.50, convertible to common on a 2-for-1 basis, 100,000 shares authorized, 50,000 shares issued and outstanding Common shares, unlimited number of shares authorized, 150,000 shares issued and outstanding Total contributed capital Retained earnings Total shareholders' equity 1,500,000 3,000,000 1,200,000 $4,200,000 cuss the 2. Sup bid the Probl CNZC The following information is available for the year ending December 31, 2017: Feb. Apr. May Jun. Feb. 1 Declared a cash dividend of $275,000, payable on March 1 to the shareholders of record on February 15. Indicate the amount payable to each class of shareholder Mar. 1 Paid the cash dividend declared on February 1. May 2 Declared a 20 percent stock dividend on the common shares, distributable on July 4 to the shareholders of record on June 15. The market value of the shares was $11.00 per share. Jul. 4 Distributed the common shares dividend declared on May 2. Aug. 8 The company discovered that amortization expense recorded in 2015 was understated in error by $30,000. (Ignore any tax consequences.) Dec. 31 ArtnMotion Inc.'s records show the following: $3,150,000 Sales for the year.... 1,290,000 Cost of goods sold..... 792,000 Operating expenses...... 132,000 Income from discontinued operations.. 76,000 Nov. Requi Prob The L share Earn select Feb. Mar. Loss on sale of discontinued operations... Close only the Income Summary account, assuming the company pays taxes at the rate of 35 percent. Sep. Required vined earnings for the year ended formation. For purposes of the eamings 1. Record the transactions in the general journal. ul. Explanations are not required. 2. Prepare a combined statement of income and retained earnings for the December 31, 2017. Include earnings per share information ber of common shares is 180,000. per share calculation, the weighted average number Oct. Nov