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Wholegrain Heath Foods inc. is authorued to issue...

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Accounting

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Wholegrain Heath Foods inc. is authorued to issue 4.250,000 common shares. (1) (Click the icon to view additional information.) Requirement Show the computation of Wholegrain's total shareholders' equity at December 31,2000 . Present a detaled computation of each elerment of thareholders' ecuity. Fint calculate the balance of common shares account as a result of the share transactons. Start with the common shares only, we wit calculate the balance of Retaned Eamings in the next ste (Use parentheses or a minus sign for numbers to be subtracted.) Additional information In its initial publioffering during 2016, Wholegrain issued 600,000 common shares for $6.50 per share. Over the next year, Wholegrain's share price increased and the company issued 420,000 more shares at an average price of $8.00. During the five years from 2016 through 2020 , Wholegrain earned net income of $940,000 and declared and paid cash dividends of $110,000. A 5 percent stock dividend was distributed to the shareholders in 2020 on the shares outstanding. The market price was $10.00 per share when the stock dividend was distributed. At December 31,2020 , the company has total assets of $14,400,000 and total liabilities of $6,310,000

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