Velor Ltd. showed the following adjusted information on August 31,

Velor Ltd. showed the following adjusted information on August 31, 2014, its second year-end:

Velor Ltd. showed the following adjusted information on August 31,

a. Prepare the appropriate closing entries.
b. Prepare a statement of changes in equity for the year ended August 31, 2014. No shares were issued during the secondyear.

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