In the context of Company GHI's Statement of Changes in Equity for the fiscal year ending December 31, 2023, the company reported the following movements in equity: Opening Retained Earnings: $500,000 Net Income for the Year: $150,000 Dividends Paid: $60,000 Other Comprehensive Income: $30,000 Issue of New Shares: $200,000 Based on the information provided, what is the total equity amount reported by Company GHI at the end of the fiscal year?

Exam

CFA Level 1

Section

Difficulty

Financial Reporting and Analysis

Total Equity Calculation from Changes in Equity

Hard Financial Statements Statement Of Changes In Equity

In the context of Company GHI's Statement of Changes in Equity for the fiscal year ending December 31, 2023, the company reported the following movements in equity:

Opening Retained Earnings: $500,000
Net Income for the Year: $150,000
Dividends Paid: $60,000
Other Comprehensive Income: $30,000
Issue of New Shares: $200,000

Based on the information provided, what is the total equity amount reported by Company GHI at the end of the fiscal year?

$820,000

$890,000

Hint

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