Determining the ending balance of reatainedearnings, and evaluating dividend policy.

The following account balances were selected from the records of Blake Corporation at December 31, 2017, after all adjusting entries were completed:

Common Shares (no par value; authorized 100,000 shares, issued 34,000 shares)	$ 680,000
Contributed surplus	163,000
Dividends surplus in 2017	18,000
Reatainedearnings, January 1, 2017	75,000
Correction of prior-period accounting error (a debit, net of income tax)	8,000
Income summary for 2017 (credit balance)	28,000

The stock price was $22.63 per share on that date.

Required:

1. Identify the amounts that would be reported in the retained earnings column of the statement of change in equity for 2017.

2. Prepare the shareholder's equity section of the statement of financial position at december 31, 2017.

3. Compute and evaluate the dividend yield ratio.