Whitney Water Company reported the following items on its statement of shareholders equity for the year ended December 31, 2014 (amounts in thousands of $):

Whitney Water Company reported the following items on its statement of shareholders’ equity for the year ended December 31, 2014 (amounts in thousands of $):

Requirements
1. Determine the December 31, 2014, balances in Whitney Water’s shareholders’ equity accounts and total shareholders’ equity on this date.
2. Whitney Water’s total liabilities on December 31, 2014, are $7,800. What is Whitney Water’s debt ratio on this date?
3. Was there a profit or a loss for the year ended December 31, 2014? How can you tell?
4. At what price per share did Whitney Water issue common stock during2014?

Accumulated Other $3 Par Total Common Additional Retained Comprehensive Shareholders Stock Paid-in Capital Earnings IncomeEquity Balance, December 31, 2013375 Net earnings. Other comprehensive income.. Issuance of stock Cash dividends.. Balance, December 31, 2014 2,225 $4,200 $12 $6,812 990 240 (69