Question 2 Maple Leaf Ltd., a publicly traded company, has compiled the following trial balance at their December 31, 20X8 year-end. 20X8 Accounts payable -290,000 Accounts receivable, net 496,000 AOCI -5,000 Bad debt expense 21,000 Bonds payable -289,000 Building & equipment, net 2,219,000 Cash 154,000 Cash equivalents 20,000 Common shares Contributed surplus Cost of goods sold Depreciation expense Dividends declared -1,360,000 -27,000 2,746,000 177,000 75,000 Dividends payable -75,000 FV-OCI investment 429,000 Gain on discontinued operations -42,000 Gain on sale of land -35,000 Income on discontinued operations -22,000 Income tax expense 190,000 Income tax payable -181,000 Interest expense 31,000 Interest payable -20,000 Inventory 467,000 Land 460,000 Notes payable -200,000 OCI: pension remeasurement 1,000 OCI: remeasurement gain on investments -12,000 Other operating expenses 69,000 Retained earnings -1,065,000 Salaries and other compensation expense Sales revenue 645,000 -4,577,000 Tax has already been calculated and entered as DR Income tax expense CR Income tax payable. The tax rate on discontinued operations and OCI items is 20%. There were no changes to contributed surplus during the period. Maple Leaf issued shares during the year and received $60,000 cash. Required: (a) Prepare a multi-step statement of financial performance in good form. (b) Prepare a statement of changes of equity in good form.