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The shareholders' equity section of the 30 June 2013 statement of financial position for Inglenook...

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Accounting

The shareholders' equity section of the 30 June 2013 statement of financial position for Inglenook Interiors Ltd before its recent share dividend is as follows: Ordinary shares, (100 000 shares) $500 000 Retained earnings $925 000 Total shareholders' equity $1 425 000 Inglenook Interiors Ltd declared a 10% share dividend when the market price per share was $7.00. After the share dividend, the components of Inglenook's shareholders' equity section were:

Ordinary shares $650 000; Retained earnings $805 000

Ordinary shares $660 000; Retained earnings $665 000

Ordinary shares $750 000; Retained earnings $855 000

Ordinary shares $570 000; Retained earnings $855 000

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