Based on the below information prepare a statement of shareholders$$ equity in a proper format for Rams Ltd$.$ for the year ended December $31,2020.$

Rams Ltd$.$ reported the following balances at January $1,2020$:

Common shares................................................................................ $$370,000$

Preferred shares................................................................................ $74,000$

Contributed surplus $........................................................65,000$

Retained earnings............................................................................. $70,000$

Accumulated other comprehensive income..................................... $71,000$

Rams$$ corporate tax rate $..................................................................31\mathrm{.}5\%$

During the year, Rams performed the following:

$1.$ The cumulative effect of the change from straight$-$line to accelerated depreciation resulted in a reduction to retained earnings of $$35,000,$ before tax.

$2.$ Issued common shares for a proceed of $$73,000.$

$3.$ Retired $25\%$ of preferred shares outstanding.

$4.$ Earned net income of $$496,000$ and,

$5.$ Generated other comprehensive income of $$22,000.$

$6.$ Declared total dividend of $$198,400.$

Prepare a statement of shareholders$$ equity in a proper format for Rams Ltd$.$ for the year ended December $31,2020.$