Q:Question:The equity accounts of Good Karma Corp. as at January 1, 2023, were as follows: Retained earnings, January 1, 2023 $257,600 Common shares 600,000 Preferred shares 250,000 Contributed surplus 300,000 Accumulated other comprehensive income 525,000 During 2023, the following transactions took place: Adjustment to correct error in prior years (gain net of tax $20,000) $ 48,000 Unrealized gains on FV-OCI equity investments (net of tax $34,000)A:Answer:See a step by step answer