Page 34 - Pancake Supply Chain Co-op, Inc. 2017 Annual Report
P. 34
PANCAKE SUPPLY CHAIN CO-OP, INC.
STATEMENTS OF MEMBERS’ EQUITY
Years ended December 31, 2017 and 2016
Common Retained
Stock Earnings Total
Members’ equity at January 1, 2016 $ 33,100 $ 1,687,193 $ 1,720,293
Issuance of common stock 900 - 900
Redemption of common stock (1,600) - (1,600)
Patronage dividends - (2,361,788) (2,361,788)
Net earnings from 2016 - 2,538,800 2,538,800
Members’ equity at December 31, 2016 32,400 1,864,205 1,896,605
Issuance of common stock 600 - 600
Redemption of common stock (1,400) - (1,400)
Patronage dividends - (2,397,971) (2,397,971)
Net earnings from 2017 - 1,922,597 1,922,597
Members’ equity at December 31, 2017 $ 31,600 $ 1,388,831 $ 1,420,431
See accompanying notes to financial statements.
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