The following is a pre-closing trial balance for Kalico Kats, as at December 31, 2018:

During the year, the company declared and paid $500,000 of dividends and issued shares for proceeds of $5,000,000.

Required:
Prepare, in good form, the following:

a. A statement of comprehensive income that includes net income and comprehensive income in one schedule.
b. A statement of changes in equity.

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Debit Credit $ 1,235,000 Accounts payable $ 2,860,000 Accounts receivable Accumulated depreciation-equipment 1,740,000 Accumulated depreciation-plant 1,500,000 Cash 1,009,800 Common shares 15,000,000 Depreciation-equipment 580,000 Depreciation-plant 500,000 Equipment 5,800,000 Income tax expense 537,200 Income tax on income from discontinued operations 200,000 Interest expense 165,000 Inventories 645,000 Land-cost 5,000,000 Land-revaluation adjustment 3,000,000 Long-term debt 3,500,000 Loss from discontinued operations Other comprehensive income-gain on land revaluation Plant Raw materials used Retained earnings Salaries and wages Sales 500,000 3,000,000 10,000,000 4,670,000 1,834,000 7,210,000 15,344,000 Utilities expense 876,000 Total $43,353,000 $43,353,000