Question: The following information is available for Beauvalon Inc for the

The following information is available for Beauvalon Inc. for the preparation of its September 30, 2016, financial statements:
Income before taxes............... $ 265,400
Income tax expense............... $ 62,600
Other comprehensive income (loss) ......... $ (12,300)
Earnings per share................... $ 1.878
Dividends declared, common............. $ 40,000
Dividends declared, preferred ............. $ 15,000
Retained earnings, October 1, 2015......... $1,457,850
Accumulated other comprehensive income, October 1, 2015.. $ 43,700
Share capital, common shares, October 1, 2015...... $2,000,000
Share capital, preferred shares, October 1, 2015...... $ 500,000
Beauvalon did not issue or buy back any shares during the year.
Required:
a. Prepare the shareholders’ equity section of the statement of financial position as at September 30, 2016.
b. How many common shares does Beauvalon have outstanding?



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  • CreatedJune 12, 2015
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