Page 41 - 2019 Pancake Supply Chain Co-op, Inc. Annual Report
P. 41
PANCAKE SUPPLY CHAIN CO-OP, INC.
STATEMENTS OF MEMBERS’ EQUITY
Years ended December 31, 2019 and 2018
Common Retained
Stock Earnings Total
Members’ equity at January 1, 2018 $ 31,600 $ 1,388,831 $ 1,420,431
Issuance of common stock 900 - 900
Redemption of common stock (1,700) - (1,700)
Patronage dividends - (1,762,171) (1,762,171)
Net earnings from 2018 - 1,109,610 1,109,610
Members’ equity at December 31, 2018 30,800 736,270 767,070
Issuance of common stock 500 - 500
Redemption of common stock (2,500) - (2,500)
Patronage dividends - (1,255,810) (1,255,810)
Net earnings from 2019 - 1,727,276 1,727,276
Members’ equity at December 31, 2019 $ 28,800 $ 1,207,736 $ 1,236,536
See accompanying notes to financial statements.
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