Swifty's Dance Studios Ltd. is a public company, and accordingly uses IFRS for financial reporting. The corporate charter authorizes the issuance of an unlimited number of common shares and 70,000 preferred shares with a $3 dividend. At the beginning of the December 31, 2020 year, the opening account balances indicated that 21,000 common shares had been issued for $6 per share, and no preferred shares had been issued. Opening retained earnings were $317,000. The transactions during the year were as follows: Jan. 15 Feb. 12 Sept. 2 Oct. 31 Nov. 1 Nov. 15 Dec 31 Issued 10,000 common shares at $8 per share. Issued 2,200 preferred shares at $61 per share. Issued 5,000 common shares in exchange for land valued at $35,000. Declared and paid a dividend on preferred shares of $3 per share. Declared and paid a dividend on common shares of $1.40 per share. Purchased and retired 400 preferred shares at $65 per share. After preliminary closing entries, the Income Summary account had a credit balance of $215,000. Prepare the statement of changes in shareholders' equity. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses e.g. (45).) Swifty's Dance Studio Statement of Changes in Share Number of Common Shares Common Shares Number of Preferred Shares Balance, January 1, 2020 Shares issued for cash Shares issued for land Dividends, common shares Dividends, preferred shares Shares purchased and retired Net income Balance, December 31, 2020 $ Prepare the statement of changes in shareholders' equity. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg (45).) y's Dance Studios Ltd. Changes in Shareholders' Equity Number of Preferred Shares Preferred Shares Retained Earnings Total Shareholders' Equity $ $ A $ $ $