Use the information provided below to answer the following questions.

Other information:
€¢ All of the shares were issued during the first year of operations (year ended October 31, 2013).
€¢ The common shares were issued for an average price of $9.60 per share.
€¢ The preferred shares were issued for an average price of $18.00 per share.
€¢ Retained Earnings at October 31, 2013, was $384,000. No dividends had been paid for the year ended October 31, 2014.

Required
1. Calculate A.
2. Calculate B.
3. Calculate C.
4. Calculate D.
5. Calculate Net Income (Net Loss) for the year ended October 31, 2014.
6. Assume cash dividends of $120,000 were paid during the year ended October 31, 2013. Calculate the total dividends actually paid during the year ended October 31, 2013, to the:
a. Preferred shareholders.
b. Common shareholders.
7. Referring to your answers in Part 6 above calculate the dividends per share actually received by the:
a. Preferred shareholders.
b. Common shareholders.
8. Are there any dividends in arrears as at October 31, 2014? If yes, calculate the amount of the arrears.
9. Explain the difference between €œRetained Earnings€ and €œDeficit.€
10. Explain the difference between €œdividends in arrears€ and €œdividendspayable.€

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Valcent Products Inc. Equity Section of the Balance Sheet October 31, 2014 Contributed capital: Preferred shares, $3.00 non-cumulative; unlimited shares authorized, shares issued and outstanding 540,000 Common shares, unlimited shares authorized, 325,000 shares issued and outstanding.. Total contributed capital Deficit.... Total equity. $3,468,000