Question: Need answer in a proper format Corpy Corporation has the following information available on January 1, 2020 for the equity section of its Balance Sheet:

Need answer in a proper format

Need answer in a proper format Corpy Corporation
Corpy Corporation has the following information available on January 1, 2020 for the equity section of its Balance Sheet: Contributed Capital Preferred Shares, $ 2.00 , unlimited authorized, 20,000 shares issued and outstanding, cumulative $ 140,000 Common Shares, unlimited authorized, 100,800 shares issued and outstanding 403.200 Total Contributed Capital S 543,200 Retained Earnings 252,000 Total Shareholders' Equity 795,200 During 2020, Corpy Corp. had the following transactions related to equity: 25-Jan-20 Sold 1,400 common shares for $ 7,000 cash proceeds. 15-Mar-20 Issued 600 common shares for $ 2,400 in legal costs. 17-Aug-20 Issued 4,000 preferred shares for $ 32,000 to purchase equipment. 1-Nov-20 Declared a cash dividend of $ 50,400 . The preferred shares were one year in arrears. 15-Nov-20 Date of record. 30-Nov-20 Paid the cash dividend. Corpy Corporation's profit for the year was #HHHHHH REQUIRED: a) Prepare the journal entries for the above transactions. b) Prepare the Statement of Changes in Equity for the 2020 year end. c) Prepare the Equity Section of the Balance Sheet for the 2020 year end

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