The following select balances are from Muin Co's year end 2019 financial statements: Common Shares $680,000...

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The following select balances are from Muin Co's year end 2019 financial statements: Common Shares $680,000 Preferred Shares $300,000 Retained Earnings $380,000 At the end of 2020 the company had earned net income of $131,000 and during the year they had paid dividends in the amount of $21,300 to preferred shareholders and $13,900 to common shareholders and issued additional common shares in exchange for $51,500 in cash. The company's year end is December 31. Prepare a statement of Retained Earnings and a Statement of Changes in Shareholders' Equity for Muin Co. for the year end 2020. Muin Co. Statement of Retained Earnings For the year ended December 31, 2020 Retained Earnings - Dec. 31, 2019 380,000 Net Income 131,000 511000 Less Dividends Common 13,900 i Preferred 24 21,300 i Retained Earnings - Dec. 31, 2020 v 475800 %24 %24 %24 > Muin Co. Statement of Changes in Shareholders' Equity For the year ended December 31, 2020 Common Shares Preferred Shares Net Income for the Year Issuance of Common Shares 51,500 Dividends Declared Balances, December 31, 2019 680,000 300,000 Balances, December 31, 2020 v $ %24 %24 %24 %24 Retained Earnings Shareholders' Equity Total 131,000 $ 131,000 i 51,500 35200 35200 380,000 380,000 %24 %24 %4 The following select balances are from Muin Co's year end 2019 financial statements: Common Shares $680,000 Preferred Shares $300,000 Retained Earnings $380,000 At the end of 2020 the company had earned net income of $131,000 and during the year they had paid dividends in the amount of $21,300 to preferred shareholders and $13,900 to common shareholders and issued additional common shares in exchange for $51,500 in cash. The company's year end is December 31. Prepare a statement of Retained Earnings and a Statement of Changes in Shareholders' Equity for Muin Co. for the year end 2020. Muin Co. Statement of Retained Earnings For the year ended December 31, 2020 Retained Earnings - Dec. 31, 2019 380,000 Net Income 131,000 511000 Less Dividends Common 13,900 i Preferred 24 21,300 i Retained Earnings - Dec. 31, 2020 v 475800 %24 %24 %24 > Muin Co. Statement of Changes in Shareholders' Equity For the year ended December 31, 2020 Common Shares Preferred Shares Net Income for the Year Issuance of Common Shares 51,500 Dividends Declared Balances, December 31, 2019 680,000 300,000 Balances, December 31, 2020 v $ %24 %24 %24 %24 Retained Earnings Shareholders' Equity Total 131,000 $ 131,000 i 51,500 35200 35200 380,000 380,000 %24 %24 %4

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