Johnsons Company (JC) is a public company in the business of manufacturing and selling different types of sporting goods and clothing. The new book keeper prepared the following information:

Statement of Changes in Equity

As of December 31, 2018

Beginning Retained Earnings, January 2018	$2,713,000
Profit	297,000
Ending Retained Earnings, December 31, 2018	$3,010,000

Profit Calculation

As of December 31, 2017

Sales Revenue	$983,000
Other Comprehensive Income	61,000
Investment Income	7,000
	1,051,000
Cost of Goods Sold	513,000
General and Administrative Expenses	206,000
Loss on Discontinued operations	35,000
	754,000
Income less costs	$297,000

2. Internally generated goodwill of $4,000 was capitalized and has been recorded as a reduction to the cost of goods sold.Income less costs $297,000

Additional Information:

1. Sales Revenue includes unrealized losses of $2000 on FV-NI investments. Sales Revenue also includes $25,000 of cash received on December 30, 2018 for goods to be delivered in February 2019. Jc uses a periodic inventory system.

3. On September 1, 2018 a past accounting error was identified which caused 2016 depreciation expense to be understated (due to computational error) by $8000. Depreciation was computed correctly for 2017 and onwards but the 2016 error has not been corrected.

4. Loss on discontinued operation is the regular operating losses of the hockey equipment division that management has decided to sell. Management decided to sell this division on November 30, 2018. At the time of the decision, the net book value of the capital assets related to the division was $81,000 and the fair value was $60,000. At December 31,2018, the fair value of the capital assets was $52,000. Management expects to pay a 5% commission on the sale of the division, based on the expected sales price.

5. JC declared and paid $24,000 dividends to its common share holders on May 3, 2018. The dividends included in "general and administrative expenses" of Profit Calculation

6. Other comprehensive income related to unrealized gains on FV-OCI investments

7. MC is taxed at 30%. The bookkeeper does not understand taxes so he has not recorded anything related to it.

Question:

a) Prepare a multi-step comprehensive income statement for 2018 accordance with IFRS

b) What should be the ending balance of retained earnings at December 31, 2018