Grant Construction Ltd. prepares its reports using IFRS. The following information relates to its shareholders' equity on January 1, 2017, the first day of its fiscal year. $0.50-noncumulative preferred shares, unlimited number of shares authorized, 100,000 shares issued Common shares, unlimited number of shares authorized, 1,200,000 shares issued 1,200,000 3,720,200 Contributed surplus-reacquisition of common shares 14,800 Retained earnings 7,200,000 Accumulated other comprehensive income (446,000) During the year, there were the following transactions related to shares. On May 15, 2017, Grant purchased a Caterpillar bulldozer in exchange for 90,000 common shares with a market 1. value of $3.15 per share. The fair value of the bulldozer was $295,400. On June 1, 2017, Grant's board of directors declared the semi-annual dividend to the preferred shareholders to 2. shareholders of record on June 15, payable June 30. 3. The semi-annual dividend to the preferred shareholders is paid on the appropriate date. On September 16, 2017, reacquired 45,000 common shares for $155,000 cash. On December 15, 2017, Grant's board of directors declared the second semi-annual dividend to the preferred lo 4. 5. shareholders payable December 30, 2017 and a 10 % stock dividend to the common shareholders for shareholders of record on December 16, 2017 payable January 20, 2018. The market price of the common shares at December 15, 2017 was $4.00 per share. hat rd the 6. Reported profit of $1,450,000 for the year. cau Prepare the statement of changes in shareholders' equity for the year ended December 31, 2017. GRANT CONSTRUCTION LTD Statement of Changes in Shareholders' Equity Year ended December 31, 2017 Accumulated Other Comprehensive Income (Loss) Stock Dividend Distributable Contributed Surplus Reacquisition of Common Shares Preferred Common Retained Shares Shares Earnings Total Balance, January 1 $ $ Issued for cash Reacquired shares Dividends in stock Cash dividends Comprehensive income Balance, December 31 $