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Ayayai Construction Ltd. prepares its reports using IFS. The following information relates to its shareholders' equity on January 1, 2023, the first day of its

Ayayai Construction Ltd. prepares its reports using IFS. The following information relates to its shareholders' equity on January 1, 2023, the first day of its fiscal year.
$0.40-noncumulative preferred shares, unlimited number of shares authorized, 100,000 shares issue $1,000,000
Common shares, unlimited number of shares authorized, 1,100,000 shares issued $3,322,200
Contributed surplus (repurchase of common shares) $ 14,000
Retained earnings $7,200,000
Accumulated other comprehensive $ (450,000)
During the year, there were the following transactions related to shares.
1. On May 15, 2023, Ayayai purchased equipment in exchange for 90,000 common shares with a market value of $3.10 per share. The fair value of the equipment was $295,600.
2. On June 1, 2023, Ayayai's board of directors declared the semi-annual dividend to the preferred shareholders of record on June 15, payable June 30.
3. The semi-annual dividend to the preferred shareholders is paid on the appropriate date.
4. On September 16. 2023. reacquired 45,000 common shares for $154,000 cash.
5. On December 15, 2023, Ayayai's board of directors declared the second semi-annual dividend to the preferred shareholders and a 10% stock dividend to the common shareholders for shareholders of record on December 31, 2023 payable January 20, 2024. The market price of the common shares at December 15, 2023 was $4 per share.
6. Reported comprehensive income of $1,400,000 for the year, consisting of $1,400,000 of profit and $0 other comprehensive income.

Prepare the statement of changes in shareholder's equity for the year ended December 31, 2023
Ayayai Construction LTD.
Statement of Changes in Shareholder's Equity
Preferred Shares Common Shares Stock Dividends Distributable Contributed Surplus Retained Earnings Acc. Other Comprehensive Income (Loss) Total
Balance, January 1
Issued For Cash
Repurchase of Common Shares
Dividends In Stock
Cash Dividends
Comprehensive Income
Balance, December 31

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