Baseline Company follows IFRS and had the following balances on December 31, 2022 in thousands: Preferred shares
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Question:
Baseline Company follows IFRS and had the following balances on December 31, 2022 in thousands:
Preferred shares $3,012
Common shares $4,718
Contributed surplus $1,750
Retained earnings $16,791
Accumulated other comprehensive income $514
During the year ended December 31, 2023, the company earned net income of $3,613,000, sold common shares of $30,000, and paid out dividends of $14,000 to preferred shareholders and $5,000 to common shareholders.
Required
Prepare a statement of changes in equity for the year ended December 31, 2023.
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119740445
13th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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