On January 1, 2021. Pharoah Incorporated had an unlimited number of common shares authorized, 250,000 issued, and the balance in the Common Shares account was $2.5 million. The company reported a balance in Retained Earnings on this date of $870,000 and accumulated other comprehensive income of $27,000, During the year, the following occurred: 1. 2. 3. Issued 80,000 common shares at $15 per share on July 1. Declared a 3-for-2 stock split on September 30 when the fair value was $19 per share Declared a 5% stock dividend on December 9 to common shareholders of record at December 30, distributable on January 16,2022. At the declaration date, the fair value of the common shares was $22 per share Earned profit of $360,000 for the year. Recognized a loss on equity investments of $42.000 before tax, which will be reported as other comprehensive income. The company's income tax rate is 25% 4. 5. Prepare a statement of changes in shareholders' equity for the year ended December 31, 2021. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45)) PHAROAH CORPORATION Statement of Changes in Shareholders' Equity Common Shares Stock Dividend Distributable Retained Earnings Accumulat Compreh Income Balance January 1 $ Issued for cash Stock split 3 for 2 Stock dividends Comprehensive income Balance, December 31 $ Prepare a statement of changes in shareholders' equity for the year ended December 31, 2021. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg (451) PHAROAH CORPORATION Statement of Changes in Shareholders' Equity Common Shares Stock Dividend Distributable Retained Earnings Accumulat Compreh Income Balance January 1 $ $ $ Issued for cash Stock split 3 for 2 Stock dividends Comprehensive income $ $ $ $ Balance. December 31 Prepare a statement of changes in shareholders' equity for the year ended December 31, 2021. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (451) PHAROAH CORPORATION Statement of Changes in Shareholders' Equity Stock Dividend Distributable Retained Earnings Accumulated Other Comprehensive Income (Loss) Total $ $ $ $ $ $ $