On March $1,2023,$ VisionTech Inc.$$s board of directors declared a $5\%$ share dividend when the market price per share was $$28\mathrm{.}00.$ On November $15,2023,$ the board of directors declared a $4$:$1$ share split. The equity section of the company$$s December $31,2022,$ balance sheet showed:

Common shares; $20,000,000$ shares authorized; $3,300,000$ shares issued and outstanding $ $21,120,000$

Retained earnings $2,335,000$

Required:

$1.$ Prepare a statement of changes in equity for the year ended December $31,2023,$ assuming profit earned during the year was $$5,972,500.($Amounts to be deducted should be indicated by a minus sign.$)$

Answer rating: 100% (QA)

Answer To prepare the statement of changes in equity for the year ended December 31 2023 we need to ... View the full answer