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On 31 December 20X6, Wave Exploration Ltd. reported the following in shareholders' equity: 850,000 42,500 (205,000) Retained earnings Accumulated other comprehensive income re: FVTOCI investments

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On 31 December 20X6, Wave Exploration Ltd. reported the following in shareholders' equity: 850,000 42,500 (205,000) Retained earnings Accumulated other comprehensive income re: FVTOCI investments Accumulated other comprehensive income re: foreign currency Comprehensive income for 20x7 is as follows: Earnings Other Comprehensive Income: Change in fair value of FVTOCI investments Foreign exchange gain on foreign subsidiary Comprehensive income $ 293,000 (24,100) 31,500 $ 300,400 Required: 1. Calculate the balance in each equity account, reflecting disposition of 20X7 comprehensive income

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