Hello,
I'm attempting to complete proforma financial statements for a project, and I'm stuck on understanding what has occurred between 2015-2017 within the equity section of the balance sheet. In 2015, the business was organized as a sole proprietorship and, beginning in 2016, it later was structured as a corporation. Specifically, I'm confused by the Shareholder Distribution in 2017, as well as the Members Equity and Paid in Capital rows. If anyone could provide some insight on what went on, I'd be very grateful. Thank you.
I'm attempting to complete proforma financial statements for a project, and I'm stuck on understanding what has occurred between 2015-2017 within the equity section of the balance sheet. In 2015, the business was organized as a sole proprietorship and, beginning in 2016, it later was structured as a corporation. Specifically, I'm confused by the Shareholder Distribution in 2017, as well as the Members Equity and Paid in Capital rows. If anyone could provide some insight on what went on, I'd be very grateful. Thank you.