The Atlantic Refinery Corp (ARC) is a public company headquartered in St. John's, Newfoundland On 31 December 20X5. the ou closing trial balance included the following accounts in thousands of Canadian dollars v. Credit Debit $73,989 $ 35,00 175,000 Investment in Mongolian subsidiary Provision for future site restoration Common shares Translation differential from Mongolian subsidiary Convertible bonds Equity portion of convertible bonds Contributed surplus-premium on common shares issued Goodwill (fron purchase of Mongolian subsidiary) Investment in shares of upstre affiliate Retained earnings Trademarks 87,820 5.000 35,700 37.00 543,700 6,900 The following transactions and events occurred during 20X6 a. Net income amounted to $52 million b. The value of trademarks was written off after ARC lost a patent protection lawsuit c. An additional $1.4 milion of convertible bonds was transferred from the debt portion to the equity portion d. An accounting policy was changed due to a new IFRS taking effect in 20X6, the effect of retrospective restatement was to reduce prior years' earnings by an aggregate amount of $37 million e. The future liability for site restoration was increased by $5 milion t Common shares with a stated value of $17 million were repurchased on the open market for $24 million and cancelled The original issue price of the shares amounted to $21, of which 54 million had been credited to contributed surplus Q. A new class of preferred shares was issued to a major public sector pension plan for $85 million to finanse future development h. Dividends totalling $29 million were issued during the year Of that amount $5 million were declared on 24 December 20X6 payable to shareholders of record on January 15, 20X7 1. The translated amount of ARC's investment in Mongolian subsidiary declined by S4 million due to a rise in the value of the Canadian dollar Required: Prepare a statement of changes in equity for Atlantic Refinery Corp. for the year ended 31 December 20X6 (Enter answer in thousands, not in million or whole Canadian dollars. Negative amounts should be indicated by a minus sign.) The Atlantic Refinery Corp (ARC) is a public company headquartered in St. John's, Newfoundland On 31 December 20X5. the ou closing trial balance included the following accounts in thousands of Canadian dollars v. Credit Debit $73,989 $ 35,00 175,000 Investment in Mongolian subsidiary Provision for future site restoration Common shares Translation differential from Mongolian subsidiary Convertible bonds Equity portion of convertible bonds Contributed surplus-premium on common shares issued Goodwill (fron purchase of Mongolian subsidiary) Investment in shares of upstre affiliate Retained earnings Trademarks 87,820 5.000 35,700 37.00 543,700 6,900 The following transactions and events occurred during 20X6 a. Net income amounted to $52 million b. The value of trademarks was written off after ARC lost a patent protection lawsuit c. An additional $1.4 milion of convertible bonds was transferred from the debt portion to the equity portion d. An accounting policy was changed due to a new IFRS taking effect in 20X6, the effect of retrospective restatement was to reduce prior years' earnings by an aggregate amount of $37 million e. The future liability for site restoration was increased by $5 milion t Common shares with a stated value of $17 million were repurchased on the open market for $24 million and cancelled The original issue price of the shares amounted to $21, of which 54 million had been credited to contributed surplus Q. A new class of preferred shares was issued to a major public sector pension plan for $85 million to finanse future development h. Dividends totalling $29 million were issued during the year Of that amount $5 million were declared on 24 December 20X6 payable to shareholders of record on January 15, 20X7 1. The translated amount of ARC's investment in Mongolian subsidiary declined by S4 million due to a rise in the value of the Canadian dollar Required: Prepare a statement of changes in equity for Atlantic Refinery Corp. for the year ended 31 December 20X6 (Enter answer in thousands, not in million or whole Canadian dollars. Negative amounts should be indicated by a minus sign.)