At December 31, 2014, KD Corporation reported the following on its comparative balance sheet, which included 2013

Question:

At December 31, 2014, KD reported the following on its comparative balance sheet, which included 2013 amounts for comparison:
_____________________________December 31,
____________________________2014 2013
Common shares
Authorized: 10,000 shares
Issued: 3,600 shares in 2014.......$85,000
3,490 shares in 2013............................$79,000
Retained earnings.....................50,800...46,800
1. How much did KD Corporation's total contributed capital increase during 2014? What caused total contributed capital to increase? How can you tell?
2. Assuming no dividends were declared during 2014, did KD have a profit or a loss for 2014? How can you tell?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...