AyayaiLimited has two classes of shares outstanding: preferred ($4dividend) and common. At December 31, 2019, the following accounts and balances were included in shareholders' equity:

Preferred shares,310,000shares issued (authorized, 1,000,000 shares)$2,800,000Common shares,1,000,000shares (authorized, unlimited)24,000,000Contributed surpluspreferred100,000Contributed surpluscommon1,000,000Retained earnings4,500,000Accumulated other comprehensive income150,000

The contributed surplus accounts arose from net excess of proceeds over cost on previous cancellations of shares of each respective class. The following transactions affected shareholders' equity during 2020:

Jan. 1Issued23,000preferred shares at $23per share.Feb. 1Issued45,000common shares at $18per share.June 1Declared a 2-for-1 stock split (common shares).July 1Purchased and retired23,000common shares at $13per share.Dec. 31Net income is $2,000,000; comprehensive income is $1,950,000.Dec. 31The preferred dividend is declared, and a common dividend of $0.40per share is declared.

Assume thatAyayaifollows IFRS.

A. Prepare the statement of changes in shareholders' equity for the company at December 31, 2020.(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round intermediate calculations to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 5,275.)

B. Prepare the shareholders' equity section of the SFP for the company at December 31, 2020.

C. Prepare the journal entry for the repurchase of23,000common shares on July 1, 2020

D. Prepare the journal entry for the repurchase of23,000common shares assuming instead that the repurchase took place on May 31 at the same repurchase price of $13.

E. What effect will the change in the date have on total shareholders' equity?