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Exercise 15-12 its December 31, 2016 statement of financial position Blue Spruce Corp. reported the following amounts in the shareholders' equity section Preferred shares, $8 dividend (9,000 shares authorized, 2,200 shares Issued) $215,600 Common shares (unlimited authorized, 30,000 issued) Contributed surplus Retained earnings 720,000 70,800 290,000 Accumulated other comprethensive income 80,000 $1,376,400 Total During 2017, the company had the following transactions that affect shareholders' equity. 1. Paid the annual 2016 $8 per share dividend on preferred shares and a $3 per share dividend on common shares. These dividends had been declared on December 31, 2016 ncelled them. 3. Issued 900 shares of preferred shares at s108 per share (at the beginning of the vear) 4. Dedared a 5% stock dividend on the outstanding common shares when the shares were selling for $44 per share. 5. Issued the stock dividend. 6. Dedared the annual 2017 $8 per share dividend on prefemred shares and a $2 per share dividend on common shares. These dividends are payable in 2018. The contributed surplus arose from net excess of proceeds over cost on a previous cancellation of common shares. Total assets at December 31, 2016, were $2,140,000, and total assets at December 31, 2017 were $2,616,000. The company follows IFRS. Prepare the statement of changes in shareholders' equity for the year ended December 31, 2017. Assume 2017 net income was $440,000 and comprehensive Income was $444,000. (Enter negative amounts using elther a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Blue Spruce Corp. Statement of Changes in Shareholders' Equity Preferred shares Common Shares Retained Earnings Comprehensi ther Paid-in Contributed Surplus Number Shares Number shares Paid-in Total me Balance, January 1 Net income Other comprehensive income Comprehensive income Repurchase of common shares preferred shares Issuance Issuance of common shares through stock dividend Cash dividend: - preferred common Balance, December 31 Prepare the December 31, 2017 shareholders' equity section. sharebolders' Equity Calculate the rate of return on common shareholders' equity and the rate f return on total assets for 2017. (Round percentage answers to 2 decimal places, e.g. 52.75%.) retum on common shareholders' equity Rate retun on total assets Rate Is Blue Spruce trading on the equity? Exercise 15-12 its December 31, 2016 statement of financial position Blue Spruce Corp. reported the following amounts in the shareholders' equity section Preferred shares, $8 dividend (9,000 shares authorized, 2,200 shares Issued) $215,600 Common shares (unlimited authorized, 30,000 issued) Contributed surplus Retained earnings 720,000 70,800 290,000 Accumulated other comprethensive income 80,000 $1,376,400 Total During 2017, the company had the following transactions that affect shareholders' equity. 1. Paid the annual 2016 $8 per share dividend on preferred shares and a $3 per share dividend on common shares. These dividends had been declared on December 31, 2016 ncelled them. 3. Issued 900 shares of preferred shares at s108 per share (at the beginning of the vear) 4. Dedared a 5% stock dividend on the outstanding common shares when the shares were selling for $44 per share. 5. Issued the stock dividend. 6. Dedared the annual 2017 $8 per share dividend on prefemred shares and a $2 per share dividend on common shares. These dividends are payable in 2018. The contributed surplus arose from net excess of proceeds over cost on a previous cancellation of common shares. Total assets at December 31, 2016, were $2,140,000, and total assets at December 31, 2017 were $2,616,000. The company follows IFRS. Prepare the statement of changes in shareholders' equity for the year ended December 31, 2017. Assume 2017 net income was $440,000 and comprehensive Income was $444,000. (Enter negative amounts using elther a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Blue Spruce Corp. Statement of Changes in Shareholders' Equity Preferred shares Common Shares Retained Earnings Comprehensi ther Paid-in Contributed Surplus Number Shares Number shares Paid-in Total me Balance, January 1 Net income Other comprehensive income Comprehensive income Repurchase of common shares preferred shares Issuance Issuance of common shares through stock dividend Cash dividend: - preferred common Balance, December 31 Prepare the December 31, 2017 shareholders' equity section. sharebolders' Equity Calculate the rate of return on common shareholders' equity and the rate f return on total assets for 2017. (Round percentage answers to 2 decimal places, e.g. 52.75%.) retum on common shareholders' equity Rate retun on total assets Rate Is Blue Spruce trading on the equity

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