Martinez Limited has two classes of shares outstanding: preferred ($ 4 dividend) and common. At December 31, 2019, the following accounts and balances were included in shareholders' equity: Preferred shares, 290,000 shares issued (authorized, 1,000,000 shares) $ 2,800,000 Common shares, 1,000,000 shares (authorized, unlimited) 24,000,000 100,000 Contributed surplus-preferred Contributed surplus-common Retained earnings 1,000,000 4,500,000 Accumulated other comprehensive income 150,000 The contributed surplus accounts arose from net excess of proceeds over cost on previous cancellations of shares of each respective class. The following transactions affected shareholders' equity during 2020: Jan. 1 Issued 23,000 preferred shares at $ 23 per share. Feb. 1 June 1 Issued 45,000 common shares at $ 18 per share. Declared a 2-for-1 stock split (common shares). Purchased and retired 23,000 common shares at $ 13 per share. Net income is $ 2,000,000; comprehensive income is $ 1,950,000. July 1 Dec. 31 Dec. 31 The preferred dividend is declared, and a common dividend of $ 0.40 per share is declared. Assume that Martinez follows IFRS. Prepare the statement of changes in shareholders' equity for the company at December 31, 2020. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45). Round intermediate calculations to 2 decimal places, eg. 52.75 and all other answers to 0 decimal places, e.g. 5,275.) Preferred Shares Common Sh Number of Shares Number of Shares Share Capital Balance January 1, 2020 $ $ Issued preferred shares Issued common shares 2-for-1 stock split Reacquired common shares Declared dividends - preferred Declared dividends - common Net income Other comprehensive income Balance December 31, 2020 $ $ $ Prepare the shareholders' equity section of the SFP for the company at December 31, 2020. Prepare the statement of changes in shareholders' equity for the company at December 31, 2020. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45). Round intermediate calculations to 2 decimal places, eg. 52.75 and all other answers to 0 decimal places, e.g. 5,275.) MARTINEZ LIMITED Statement of Changes in Shareholders' Equity ares Contrib. Surplus - Preferred Share Capital Contrib. Surplus - Common Comp In Retained Earnings $ $ $ $ $ $ $ $ Prepare the shareholders' equity section of the SFP for the company at December 31, 2020. Prepare the statement of changes in shareholders' equity for the company at December 31, 2020. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round intermediate calculations to 2 decimal places, eg. 52.75 and all other answers to O decimal places, e.g. 5,275.) Contrib. Surplus - Common Retained Earnings Acc. Other Comprehensive Income ed Total $ $ $ $ $ $ $ $ $ $ Prepare the shareholders' equity section of the SFP for the company at December 31, 2020. Prepare the shareholders' equity section of the SFP for the company at December 31, 2020. MARTINEZ LIMITED Shareholders' Equity $ ta
