White Pear Inc., an organic soap manufacturer, showed the following equity information as at December 31,...
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White Pear Inc., an organic soap manufacturer, showed the following equity information as at December 31, 2020: Contributed capital: White Pear Inc. Equity Section of the Balance Sheet December 31, 2020 Preferred shares, $3.60 non-cumulative; 100,000 shares authorized 71,000 shares issued and outstanding Common shares; unlimited shares authorized; ? shares issued and outstanding Total contributed capital Retained earnings Total equity ? ? $5,446,000 ? ? Other information: a. The preferred shares had sold for an average price of $32.00. b. The common shares had sold for an average price of $13.80. c. Retained Earnings at December 31, 2019, was $188,000. During 2020, profit earned was $1,688,000. The board of directors declared a total cash dividend of $520,000. Required: Calculate the missing figures. WHITE PEAR INC. Equity Section of the Balance Sheet Contributed capital: December 31, 2020 Preferred shares, $3.60 non-cumulative; 100,000 shares authorized 71,000 shares issued and outstanding Common shares; unlimited shares authorized; shares issued and outstanding Total contributed capital $ 5,446,000 Retained earnings Total equity White Pear Inc., an organic soap manufacturer, showed the following equity information as at December 31, 2020: Contributed capital: White Pear Inc. Equity Section of the Balance Sheet December 31, 2020 Preferred shares, $3.60 non-cumulative; 100,000 shares authorized 71,000 shares issued and outstanding Common shares; unlimited shares authorized; ? shares issued and outstanding Total contributed capital Retained earnings Total equity ? ? $5,446,000 ? ? Other information: a. The preferred shares had sold for an average price of $32.00. b. The common shares had sold for an average price of $13.80. c. Retained Earnings at December 31, 2019, was $188,000. During 2020, profit earned was $1,688,000. The board of directors declared a total cash dividend of $520,000. Required: Calculate the missing figures. WHITE PEAR INC. Equity Section of the Balance Sheet Contributed capital: December 31, 2020 Preferred shares, $3.60 non-cumulative; 100,000 shares authorized 71,000 shares issued and outstanding Common shares; unlimited shares authorized; shares issued and outstanding Total contributed capital $ 5,446,000 Retained earnings Total equity
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