Joe Schreiner, controller for Bridgeport Company Inc., recently prepared the company's income statement and statement of changes in equity for 2023. Joe believes that the statements are a fair presentation of the company's financial progress during the current period, but he also admits that he has not examined any recent professional pronouncements on accounting. Bridgeport Company Inc. Income Statement For the Year Ended December 31, 2023 Sales revenues Cost of goods sold Gross profit Selling expenses Administrative expenses Income before income tax Other revenues and gains Unrealized gain on FV-OCI equity investments Dividend revenue Income tax expense Net income $373,000 209,000 164,000 41,040 30,000 71,040 92,960 Bridgeport Company Inc. Excerpt from Statement of Changes in Equity For the Year Ended December 31, 2023 Retained earnings, January 1, 2023 Add: 35,600 39,600 168,160 50,448 $117,712 $210,000 Net income for 2023 $117,712 Gain on disposal of long-term investments 32,100 $149,812 Deduct: Loss on expropriation 11,600 Correction of mathematical error (net of tax) 14,825 (26,425) 123,387 Retained earnings, December 31, 2023 $333,387 Sales Revenues Cost of Goods Sold Gross Profit/(Loss) Selling Expenses Administrative Expenses Operating Income before Income Tax Other Revenues and Gains For the Year Ended December 31, 2023 41040 i 30000 i Gain on Disposal of Long-Term Investments 32100 Dividend Revenue Total Other Revenues and Gains Other Expenses and Losses Loss on Expropriation Income before Income Tax Income Tax Expense Net Income/(Loss) Other Comprehensive Income Unrealized Gain on FV-OCI Investments Comprehensive Income 39600 373000 -209000 i 164000 71040 i 92960 71700 164660 -11600 i 153060 45918 i 107142 24920 132062 Prepare the retained earnings and accumulated other comprehensive income portion of the statement of changes in equity. Assume an opening balance of $124,000 in accumulated other comprehensive income. (Round answers to O decimal places, e.g. 5,275.) Balance January 1, as reported BRIDGEPORT COMPANY INC. Statement of Changes in Equity For the Year Ended December 31, 2023 +A Retained Earnings 210000 +A $ Accumulated Other Comprehensive Income 124000 Correction of prior year error (net of tax) Balance January 1 restated Net income/(Loss) Unrealized gain on FV-OCI investment Balance December 31 -26425 $ $