Prepare a statement of changes in equity

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Question - Culver Limited reports the following for 2020: sales revenue, $912,000; cost of sales, $768,000; operating expenses, $101,200; and unrealized gain on FV-OCI investments, $59,600. The company had January 1, 2020 balances as follows: common shares, $500,000; accumulated other comprehensive income, $230,000; and retained earnings, $912,000. The company did not issue any shares during 2020. On December 15, 2020, the board of directors declared a $250,000 dividend payable on January 31, 2021.

Prepare a statement of changes in equity. Ignore income tax.

Reference no: EM132437337

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