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Question 3 - (7 Marks) Tote Ltd reported the following balances at January 1, 2014 Common shares $420,000 Retained earnings 30,000 Accumulated other comprehensive income

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Question 3 - (7 Marks) Tote Ltd reported the following balances at January 1, 2014 Common shares $420,000 Retained earnings 30,000 Accumulated other comprehensive income 58,000 During the year Tote earned net income of $200,000 and generated other comprehensive income of $70,000. Instructions Prepare a statement of shareholders' equity for the year ended December 31, 2014

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