The financial statements of Sun Media Inc. included the following selected information at December 31, 2012:

The common shares were sold at \(\$ 20\) per share.
\section*{Required:}
1. What was the amount of retained earnings at the beginning of 2012 ?
2. Compute earnings per share.
3. Prepare the shareholders' equity section of the company's statement of financial position at December 31, 2012.

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Common shares Retained earnings Profit Dividends declared $6,000,000 850,000 1,200,000 800,000