answer quickly Answer question a, b, c, dUsing the financial data given for Reitman's (Canada), calculate the following Some answers DO NOT requirecalculations. But you must calculate the correct amount for RETAINED EARNINGS (do NOT record the givenamount of retained earnings for your answer).REITMANS (CANADA) LIMITEDSelected Financial DataJanuary 28, 2006(in thousands)VClass A non-voting (preferred) shares, unlimited authorized, 56,747 issuedJCommon shares, unlimited authorized, 13,440 issuedContributed surplusVDividendsNet incomeVReduction of retained carnings due to reacquisition of Class A non-voting shgresabove average costRetained earnings, January 29, 2005Total shareholders' equity, January 29, 2005$ 16,8924822,52329,345.84,8891,375316,191331,524a) Value of Preferred Shares:b) Value of Common Sharesc) Retained Eamingsd) Total shareholders equity, January 28, 2006

Closing Retained earning= Opening+income-dividend-adjustments

Answered: Using the financial data given for…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter5: Income Statement: Reporting The Results Of Operating Activities

Section: Chapter Questions

Problem 19E

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