The equity accounts of Culver Corp. as at January 1, 2020, were as follows:

Retained earnings, January 1, 2020			$	214,700
Common shares				600,000
Preferred shares				250,000
Contributed surplus				290,000
Accumulated other comprehensive income				525,000

During 2020, 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)			82,000
Dividends:
	Common shares		120,000
	Preferred shares		62,000
Issue of equity:
	Common shares		290,000
	Preferred shares		5,000
Net income			323,000

Prepare a statement of changes in equity for the year ended December 31, 2020. The company follows IFRS. Assume that equity investments are accounted for as FV-OCI investments, with gains/losses not recycled through net income.