Wilma Corporation reported the following amounts in its
shareholders’ equity section on the December 31, 2014 balance
sheet:
Preferred shares, $5 dividend, 10,000 shares authorized,
$180,000
2,500 shares
issued
Common shares, 100,000 authorized, 25,000
issued
100,000
Contributed
Surplus[1]
122,000
Retained
Earnings
238,000
Accumulated Other Comprehensive
Income
50,000
Total Shareholders’
Equity
$690,000
During 2015, the following transactions impacted shareholders’
equity:
a) Jan 15: Purchased 6,000
shares of its own common shares for $26 per share and...