The financial statements of Planet Media Inc. included the following selected information at the end of its fiscal year:

The common shares were sold at $$20$ per share.

Required:

What was the amount of retained earnings at the beginning of the year? $($Round your intermediate calculations and final answer to

nearest whole dollar amount.$)$

Compute earnings per share. Assume the average number of shares outstanding is equal to the number of shares outstanding.

$($Round the final answer to $2$ decimal places.$)$

Earnings per share

Prepare the shareholders' equity section of the company's statement of financial position at the end of the year.