Current Attempt in Progress Presented below is information which relates to Sheridan Company, a Canadian...
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Current Attempt in Progress Presented below is information which relates to Sheridan Company, a Canadian public corporation traded on the Toronto Stock Exchange, for 2020. Net income $ 443,000 815,000 36,000 473,000 Retained earnings, January 1, 2020 Cash dividends declared on common shares Correction of calculation error depreciation understatement in 2016 (pre-tax) Gain on FV-OCl investments (net of tax) Proceeds from issuance of Sheridan common shares Accumulated other comprehensive income, January 1, 2020 213,000 60,000 15,500 On January 1, 2020, Sheridan had 22.000 common shares outstanding with a capital balance of $ 550,000. During the year, Sheridan Company issued an additional 2,000 common shares. Prepare in good form a statement of shareholders equity for the year ended December 31, 2020. Sheridan's income tax rate is 20%. (Enter expenses and losses using either a negative sign preceding the number e.g.-25 or parentheses eg. (25).) Sheridan Company Statement of Shareholders' Equit Common Shares Number Common Shares Beginning balance $ Net income > > $ Sheridan Company atement of Shareholders' Equity Common Shares Retained Earnings Accumulated Other Comprehensive Income Total $ $ $ $ $ $ $ $
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