Prepare in proper form a classified Statement of Financial Position as at December 31, 2019
On October 31st, 2019, the company declared $30,000 cash dividends. The dividends were paid on February 12, 2020.
On February 15th, 2019, the company declared a 20% common stock dividends when market share price was $30. The shares were distributed on November 15th, 2019 when market share price was $32.
On December 31, 2019, the company declared a two-for-one stock split on common shares.
Client/Customer List was purchased on December 31, 2019. It is expected to have an economic life of 3 years.
The furniture was purchased on Jan 1, 2017. It has a useful life of 10 years, with no expected residual value. Company uses the straight-line depreciation method. No depreciation was recorded for year 2019.
