Refer to the data for Peninsula Supply Corporation presented in BE14-11. (a) Prepare the comprehensive income statement for 2014. (b) Prepare the shareholders' equity section of the balance sheet at December 31, 2014.

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PENINSULA SUPPLY CORPORATION Statement of Changes in Shareholders' Equity Year Ended December 31 2014 2013 Number of Shares Number of Shares Amount Amount Common shares, unlimited authorized Balance, January 1 500,000 50,000 (25,000) $ (b) 32,500 500,000 $600,000 0 0 600,000 Issued shares for cash Reacquired shares Balance, December 31 603,750 500,000 Contributed surplus-reacquired shares Balance, January 1 15,000 8,000 15,000 0 Reacquired common shares Balance, December 31 15,000 Retained earnings Balance, January 1 179,500 22,500 190,000 Profit loss) Common dividends-Cash (30,000) 179,500 Balance, December 31 181,000 Accumulated other comprehensive income Balance, January 1 51,000 Other comprehensive income (loss) Balance, December 31 (3,000) 51,000 68,000 Shareholders' equity, December 31 $ (g)