Question: Question 7 (8 points) The following is selected information for Southern Corporation for the year ended July 31, 2020: Net sales revenue.. $950,000 Unrealized gain

Question 7 (8 points) The following is selected information for Southern Corporation for the year ended July 31, 2020: Net sales revenue.. $950,000 Unrealized gain on fair value through OCI Investments 9,200 Interest income. 2,500 Dividend revenue... 14,000 Net income. 114,500 Comprehensive income.. 123,700 Dividends declared. 120,000 $ 210,000 Additional information: Common shares, August 1, 2019.. Accumulated other comprehensive income, August 1, 2019. Retained earnings, August 1, 2019 12,250 478,020 On March 1, 2020, Southern issued an additional 8,000 common shares for $72,000. Required: Prepare the Statement of Changes in Equity for Southern for the year ended July 31, 2020 using appropriate format and terminology. A template is provided for your response. BIU Format

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