Reference no: EM132545085
For the year ended December 31, 2013, Evans Inc. reported the following shareholder equity:
Common shares, 400,000 shares authorized, 140,000 shares issued and outstanding 1,400,000
Retained Earnings 672,000
During 2014, Evans Inc completed these transactions and events.
a) Declared and issued a 10-percent stock dividend. At time Evans Inc's common shares were quoted a market price of $11.50 per share.
b) Sold 1,000 common shares for $12.50 per share.
c) sold 1,000 common shares to employees at $10.00 per share
d) Net income for the year was $397,500
e) Declared and paid cash dividends of $140,000
Required:
Question 1: Prepare Evans Inc's statement of shareholder equity for 2014.
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