Blossom Ltd. reported the following balances at January 1, 2023: Common shares Retained earnings Accumulated other comprehensive income $355,000 67,200 68,200 During the year Blossom earned net income of $297,000 and generated other comprehensive income of $61,300. Prepare a statement of changes in shareholders' equity for the year ended December 31, 2023.
Blossom Ltd. reported the following balances at January 1, 2023: Common shares Retained earnings Accumulated other comprehensive income $355,000 67,200 68,200 During the year Blossom earned net income of $297,000 and generated other comprehensive income of $61,300. Prepare a statement of changes in shareholders' equity for the year ended December 31, 2023.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Beginning balance
Net income
Other comprehensive income
Comprehensive income
Ending balance
LA
$
LA
Common Shares
LA
$
BLOSSOM LTD.
Statement of Changes in Shareholders' Equity
Comprehensive Income
LA
to
$
Retained Earnings](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7922c58b-d5b6-4139-adaf-1b126b323901%2Fab161661-25ed-4684-ac02-2a9097f52ace%2Fhegw4y_processed.png&w=3840&q=75)
Transcribed Image Text:Beginning balance
Net income
Other comprehensive income
Comprehensive income
Ending balance
LA
$
LA
Common Shares
LA
$
BLOSSOM LTD.
Statement of Changes in Shareholders' Equity
Comprehensive Income
LA
to
$
Retained Earnings
![Blossom Ltd. reported the following balances at January 1, 2023:
Common shares
Retained earnings
Accumulated other comprehensive income
$355,000
67,200
68,200
During the year Blossom earned net income of $297,000 and generated other comprehensive income of $61,300.
Prepare a statement of changes in shareholders' equity for the year ended December 31, 2023.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7922c58b-d5b6-4139-adaf-1b126b323901%2Fab161661-25ed-4684-ac02-2a9097f52ace%2Fmnwk3bul_processed.png&w=3840&q=75)
Transcribed Image Text:Blossom Ltd. reported the following balances at January 1, 2023:
Common shares
Retained earnings
Accumulated other comprehensive income
$355,000
67,200
68,200
During the year Blossom earned net income of $297,000 and generated other comprehensive income of $61,300.
Prepare a statement of changes in shareholders' equity for the year ended December 31, 2023.
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