Concord Umbrella Corporation had the following balances at December 31, 2019 (all amounts in thousands): preferred shares, $3,045; common shares, $7,595; contributed surplus, $3,405; retained earnings, $20,780; and accumulated other comprehensive income, $2,370. During the year ended December 31, 2020, the company earned net income of $6,453,000, generated an unrealized holding gain on FV-OCI investments of $557,000, sold common shares of $263,000, and paid out dividends of $30,000 and $20,000 to preferred and common shareholders, respectively. Gains/losses on FV-OCI investments are not recycled through net income.

(a1) Prepare a statement of changes in equity for the year ended December 31, 2020

Prepare the shareholders equity section of the Concord Umbrella Corporation balance sheet as at December 31, 2020.