Who Corp. incorporated January 1, 2023 and was authorized to…
Who Corp. incorporated January 1, 2023 and was authorized to issue 500,000 common shares. During 2023, the company entered into the following transactions: 1. Issued 30,000 common shares in exchange for $300,000. 2. Declared dividends of $50,000, these have not yet been paid. Additional information: Who Corp. generated $750,000 in net income in 2023. Finish the Shareholders’ Equity section of the Statement of Financial Position as of December 31, 2023 by filling in the blanks below. Who Corp. Shareholders’ Equity Section of the Statement of Financial Position As at December 31, 2023 Shareholders’ Equity Share Capital: Common shares, 500,000 authorized, 30,000 issued Blank #1 Retained earnings Blank #2 Total Shareholders’ Equity Blank #3 When recording numerical responses do not include dollar signs, commas or spaces. Ex. 1000