Bramble Mills Ltd. had the following shareholders equity at January 1, 2020.

Preferred shares, 8%, $100 par value, 10,000 shares authorized, 5,200 shares issued		$520,000
Common shares, $2 par value, 200,000 shares authorized, 115,000 shares issued		230,000
Common shares subscribed, 11,200 shares		22,400
Contributed surpluspreferred		26,000
Contributed surpluscommon		952,000
Retained earnings		787,000
		2,537,400
Less: Common share subscriptions receivable		52,000
Total shareholders equity		$2,485,400

The contributed surplus accounts arose from amounts received in excess of the par value of the shares when issued. During 2020, the following transactions occurred:

1.		Equipment was purchased in exchange for 100 common shares. The shares fair value on the exchange date was $12 per share.
2.		Sold 1,020 common shares and 110 preferred shares for the lump-sum price of $25,500. The common shares had a market price of $14 at the time of the sale.
3.		Sold 3,200 preferred shares for cash at $102 per share.
4.		All of the subscribers paid their subscription prices into the firm.
5.		The common shares subscribed were issued.
6.		Repurchased and retired 1,020 common shares at $15 per share. Calculate the amount recorded to contributed surplus on a pro-rata basis and round to three decimal places.
7.		Net income for 2020 was $252,000.

Prepare the shareholders equity section for the company as at December 31, 2020.

Bramble Mills Ltd. Shareholders' Equity For the Year Ended December 31, 2020 $ tA tA