### Reporting Changes in Stockholders' Equity ItemsOn May 1, 2016, Ryde Inc. had common stock of $345,000, additional paid-in capital of $1,298,000, and retained earnings of $3,013,000. Ryde did not purchase or sell any common stock during the year. The company reported net income of $556,000 and declared dividends in the amount of $78,000 during the year ended April 30, 2017.### Required:Prepare a financial statement that explains the differences between the beginning and ending balances for the accounts in the Stockholders' Equity category of the balance sheet. If an amount is zero, enter "0".---#### Ryde Inc.### Statement of Stockholders' Equity #### For the Year Ended April 30, 2017| | Common Stock | Additional Paid-In Capital | Retained Earnings | Total Stockholders' Equity ||-------------------|------------------|---------------------------|-------------------|----------------------------|| **Balance, May 1, 2016** | $345,000 | $1,298,000 | $3,013,000 | $ || **Net Income** | $0 | $0 | $556,000 | $ || **Dividends** | $0 | $0 | $(78,000) | $ || **Balance, April 30, 2017** | $ | $ | $ | $ |---### Explanation:This Statement of Stockholders' Equity displays the various components of stockholders' equity and the changes that transpired over the fiscal year ending April 30, 2017. - **Common Stock**: The value of common stock remained the same throughout the period as there were no purchases or sales of common stock.- **Additional Paid-In Capital**: There were no changes to the additional paid-in capital during this period.- **Retained Earnings**: The retained earnings account increased by $556,000 due to net income generated during the year and decreased by $78,000 due to dividends declared.- **Total Stockholders' Equity**: This column sums up the contributions from common stock, additional paid-in capital, and retained earnings.By observing these changes, one can better understand the financial activities and profitability of Ryde Inc. over the specified

Shareholders equity means total amount attributable to the shareholders of the company. It includes…

Reporting Changes in Stockholders' Equity Items On May 1, 2016, Ryde Inc. had common stock of $345,000, additional paid-in capital of $1,298,000, and retained earnings of $3,013,000. Ryde did not purchase or sell any common stock during the year. The company reported net income of $556,000 and declared dividends in the amount of $78,000 during the year ended April 30, 2017. Required: Prepare a financial statement that explains the differences between the beginning and ending balances for the accounts in the Stockholders' Equity category of the balance sheet. If an amount zero, enter "0". Ryde Inc. Statement of Stockholders' Equity For the Year Ended April 30, 2017 Common Stock Additional Paid-In Capital Retained Earnings Total Stockholders' Equity Balance, May ,2016 Net income Dividends Balance, April 30, 2017

Reporting Changes in Stockholders' Equity Items On May 1, 2016, Ryde Inc. had common stock of $345,000, additional paid-in capital of $1,298,000, and retained earnings of $3,013,000. Ryde did not purchase or sell any common stock during the year. The company reported net income of $556,000 and declared dividends in the amount of $78,000 during the year ended April 30, 2017. Required: Prepare a financial statement that explains the differences between the beginning and ending balances for the accounts in the Stockholders' Equity category of the balance sheet. If an amount zero, enter "0". Ryde Inc. Statement of Stockholders' Equity For the Year Ended April 30, 2017 Common Stock Additional Paid-In Capital Retained Earnings Total Stockholders' Equity Balance, May ,2016 Net income Dividends Balance, April 30, 2017

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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