Adjusted Trial Balance 1 Accumulated Depreciation, equipment 50000 2 Accumulated Depreciation,furniture 25000 3 Accumulated other comprehensive income 174000 4 Allowance for doubtful accounts 2100 5 Common Shares 396000 6 COGS 1540000 7 Depreciation expense, 2014 expense, understated due to error 13000 8 Depreciation expense, equipment 8900 9 Depreciation expense, furniture 7200 10 Dividends declared on common shares 13000 11 Dividends declared on preferred shares 42000 12 Entertainment Expense 30000 13 Freight out 49000 14 Gain on disposal 50000 15 Gain on sale of land 74000 16 Interest expense 24000 17 Miscellaneous operating expenses 5000 18 Preferred shares 31400 19 Rent expense 47000 20 Retained earnings 180000 21 Salaries Expense 85000 22 Sales 3500000 23 Sales commissions expense 115000 24 Sales discounts 14000 25 Sales returns and allowances 78000 26 Unrealized gain on AFS investments (OCI) 25000 Additional information The company is publically traded and follows IFRS and its income tax rate is 40 On April 30, 2015, the number of common shares outstanding was 110,000 and there were no changes to common shares during the fiscal year The ending balance for preferred shares of $31,400 includes issuing 1,900 preferred shares at $6 per share in the current year The market price per common share on the reporting date was $29 61 a) Calculate the net income (loss) for the year ended October 31, 2015 Please make sure your final answer(s) are accurate to the nearest whole number Net income (loss) b) Prepare a statement of changes in equity for the year ended October 31, 2015 Please make sure your final answer(s) are accurate to the nearest whole number

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Adjusted Trial Balance 1. Accumulated Depreciation, equipment 50000 2. Accumulated Depreciation,furniture 25000 3. Accumulated other comprehensive income 174000 4. Allowance for doubtful accounts 2100 5.

Adjusted Trial Balance
1.	Accumulated Depreciation, equipment	50000
2.	Accumulated Depreciation,furniture	25000
3.	Accumulated other comprehensive income	174000
4.	Allowance for doubtful accounts	2100
5.	Common Shares	396000
6.	COGS	1540000
7.	Depreciation expense, 2014 expense, understated due to error	13000
8.	Depreciation expense, equipment	8900
9	Depreciation expense, furniture	7200
10	Dividends declared on common shares	13000
11.	Dividends declared on preferred shares	42000
12.	Entertainment Expense	30000
13.	Freight out	49000
14.	Gain on disposal	50000
15.	Gain on sale of land	74000
16.	Interest expense	24000
17	Miscellaneous operating expenses	5000
18	Preferred shares	31400
19	Rent expense	47000
20.	Retained earnings	180000
21.	Salaries Expense	85000
22.	Sales	3500000
23.	Sales commissions expense	115000
24.	Sales discounts	14000
25.	Sales returns and allowances	78000
26.	Unrealized gain on AFS investments (OCI)	25000

Additional information: The company is publically traded and follows IFRS and its income tax rate is 40%. On April 30, 2015, the number of common shares outstanding was 110,000 and there were no changes to common shares during the fiscal year. The ending balance for preferred shares of $31,400 includes issuing 1,900 preferred shares at $6 per share in the current year. The market price per common share on the reporting date was $29.61.

a) Calculate the net income (loss) for the year ended October 31, 2015. Please make sure your final answer(s) are accurate to the nearest whole number.

Net income (loss) =

b) Prepare a statement of changes in equity for the year ended October 31, 2015. Please make sure your final answer(s) are accurate to the nearest whole number.