Doorman Sportswear's articles of incorporation authorize the company to issue 6.000$2 preferred shares and 750,000...
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Doorman Sportswear's articles of incorporation authorize the company to issue 6.000$2 preferred shares and 750,000 common shares. Doorman issued 1,200 preferred shares at $100 per share. It issued 110.000 conmon shares for $515,000. The company's Retained Earnings balance at the beginning of 2020 was 576.000, Net income for 2020 was $75,000, and the company declared a $2 cash dividend on preferred shares for 2020 Requirement Prepare the shareholders' equity section of Doorman Sportawear Inc:'s balance sheet at December.31, 2020. 3how the computation of al amounts. Joumal entries are not required. Dooman Sportswear's artoles of incorporation authorize the company to issue 6.000$2 preferred shares and 750.000 common shares. Doorman issued 1.200 prefered shares at $100 por share, It issued 110,000 common shares for $515,000. The company's Retained Eamings balance at the beginning of 2020 was $76,000. Net incorne for 2020 was $75,000, and the company declared a $2 cash dividend on preferred shares for 2020 . Reguirement Prepare the sharehoiders' equity section of Doorman Sportswear Inc's balance sheet at Docember 31, 2020. Show the computation of all amounts. Journal entries are not fequired
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