XYZ Industries is preparing its Statement of Changes in Equity for the fiscal year ending December 31, 2023. The company has reported the following changes: Beginning Retained Earnings: $500,000 Net Income for the Year: $200,000 Dividends Declared: $50,000 Issuance of New Shares: $100,000 Other Comprehensive Income: $20,000 Based on this information, what would be the total ending equity attributable to common shareholders reported in the Statement of Changes in Equity?

Exam

CFA Level 1

Section

Difficulty

Financial Reporting and Analysis

Calculate Total Ending Equity for XYZ Industries

Medium Financial Statements Statement Of Changes In Equity

XYZ Industries is preparing its Statement of Changes in Equity for the fiscal year ending December 31, 2023. The company has reported the following changes:

Beginning Retained Earnings: $500,000
Net Income for the Year: $200,000
Dividends Declared: $50,000
Issuance of New Shares: $100,000
Other Comprehensive Income: $20,000

Based on this information, what would be the total ending equity attributable to common shareholders reported in the Statement of Changes in Equity?

Total ending equity is $770,000.

Total ending equity is $820,000.

Total ending equity is $820,000 excluding other comprehensive income.

Hint

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