Culver Limited reports the following for 2020: sales revenue, $912,000; cost of sales, $768,000; operating expenses, $101,200; and unrealized gain on FV-OCI investments, $59,600. The company had January 1, 2020 balances as follows: common shares, $500,000; accumulated other comprehensive income, $230,000; and retained earnings, $912,000. The company did not issue any shares during 2020. On December 15, 2020, the board of directors declared a $250,000 dividend payable on January 31, 2021.

Prepare a statement of changes in equity. Ignore income tax.

Culver Limited

Statement of Changes in Shareholders' Equity

December 31, 2020For the Month Ended December 31, 2020For the Year Ended December 31, 2020

Common Shares Retained Earnings Accumulated Other

Comprehensive Income Total Beginning Balance$