Near the end of its first year of operations, December 31, 2021, Vaughn Designs Ltd. approached the local bank for a $ 19,400 loan and was asked to submit financial statements prepared on an accrual basis. Although the company kept no formal accounting records, it did maintain a record of cash receipts and payments. The following information is available for the year ended December 31:

Additional information:

1.		Fees from design work earned but not yet collected amounted to $ 2,430.
2.		The equipment was purchased at the beginning of January and has an estimated six-year useful life. The company uses straight-line depreciation.
3.		Supplies on hand on December 31 were $ 1,230.
4.		Rent payments included a $ 1,350 per month rental fee and a $ 1,880 deposit that is refundable at the end of the two-year lease. (Hint: Use the Prepaid Rent account for the refundable deposit.)
5.		The insurance was purchased on February 1 for a one-year period expiring on January 31, 2022.
6.		Salaries earned for the last four days in December and to be paid in January 2022 amounted to $ 3,000.
7.		At year-end, it was determined that an additional $ 7,600 is owed for income tax.

Cash Balance at Dec. 31 = 5580

Question: Please fill out

Cash Receipts Cash Payments Issue of common shares $ 18,000 Fees earned 142,300 Equipment $ 37,200 Supplies 9,000 Rent 18,080 Insurance 3,840 Income tax 5,400 Advertising 7,100 Salaries 64,600 Dividends declared 9,500 $ 160,300 $ 154,720 Prepare an accrual-based statement of changes in equity for the year. (For decreases use either a negative sign preceding the number, e.g.-45 or parenthesis, e.g. (45).) VAUGHN DESIGNS LTD. Statement of Changes in Equity Common Shares Retained Earnings Total Equity