In: Finance
Firm C has Total Assets of $ 4,000,000. The firm’s Owners Equity at the beginning of the year was $2,800,000. The firm’s Net Income for the year was $ 400,000 and Dividends totaled $ 200,000… There was no Owners Investment for the year. Assuming that this information was for year ended 12/31/2007, please present the firm’s Statement of Owners Equity.
Firm C | |||
Statement of Owner's Equity | |||
For the year ended 12/31/2007 | |||
Owners Equity at the beginning of the year | 28,00,000 | ||
Add: Net Income for the year | 4,00,000 | ||
Sub Total | 32,00,000 | ||
Less: Dividend paid | 2,00,000 | ||
Owners Equity at the end of the year | 30,00,000 | ||