Question: Please help with #3, thank you The equity section from the December 31,2020 balance sheet of Kentucky Corporation appeared as follows: The following transactions occurred


Please help with #3, thank you
The equity section from the December 31,2020 balance sheet of Kentucky Corporation appeared as follows: The following transactions occurred during 2021 (assume the retirements were the first ever recorded by Kentucky): Jan. 5 A $1.40 per share cash dividend was declared, and the date of record was five days later. Mar. 201,600 common shares were repurchased and retired at $21.50 per share. Apr. 5 A $1.00 per share cash dividend was declared, and the date of record was five days later. July 5 A $2.20 per share cash dividend was declared, and the date of record was five days later. July 31 A 20.00% share dividend was declared when the market value was $40.00 per share. Aug. 14 The share dividend was issued. Oct. 5 A $2.00 per share cash dividend was declared, and the date of record was five days later. Required: 1. How many shares were outstanding on each of the cash dividend dates? Answer is complete and correct. 2. How much profit did the company earn during 2021? Answer is complete and correct. 3. Prepare the statement of changes in equity for the year ended December 31, 2021. (Deductible values should be indicated by a minus sign.)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
