B. GENERAL PURPOSE FINANCIAL STATEMENTS - 4. STATEMENT OF CHANGES IN EQUITY

Question 1

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4. STATEMENT OF CHANGES IN EQUITY

This statement shows changes during the year for the following items: (6)

Answer 1

● Common stock

● Preferred stock

● Treasury stock

● Additional paid-in-capital

● Retained earnings

● AOCI

Note: It can be part of the footnotes, or as a separate statement. Public companies show 3 years of comparative owners’ equity on their statement of changes in equity.