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White Pear Inc., an organic soap manufacturer, showed the following equity information as at December 31, 2020: White Pear Inc. Equity Section of the Balance
White Pear Inc., an organic soap manufacturer, showed the following equity information as at December 31, 2020: White Pear Inc. Equity Section of the Balance Sheet December 31, 2020 Contributed capital: Preferred shares, 33.60 non-cumulative; 10,000 shares authorized 85,600 shares issued and outstanding Common shares; unlimited shares authorized; shares issued and outstanding Total contributed capital $8,478,aee Retained earnings Total equity Other information: a. The preferred shares had sold for an average price of $46.00 b. The common shares had sold for an average price of $15.20 c. Retained Earnings at December 31, 2019, was 5202000. During 2020, profit earned was $1.828.000. The board of directors declared a total cash dividend of $590,000 Required: Calculate the missing figures. WHITE PEAR INC. Equity Section of the Balance Sheet December 31, 2020 Contributed capital: Preferred shares, $3.60 non-cumulative; 100,000 shares authorized 85,000 shares issued and outstanding Common shares; unlimited shares authorized; shares issued and outstanding Total contributed capital Retained earnings Total equity $ 8,470,000
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