The financial statements of Planet Media Inc. included the following selected information:

Common shares	$	1,660,000
Retained earnings		937,000
Net earnings		1,203,500
Dividends declared		1,095,000

The common shares were sold at $20 per share. Required: a. What was the amount of retained earnings at the beginning the year? (Round your intermediate calculations and final answer to nearest whole dollar amount.)

b. Compute earnings per share. Assume the weighted average number of shares outstanding is equal to the number of shares outstanding.(Round the final answer to 2 decimal places.)

c. Prepare the shareholders' equity section of the companys statement of financial position at the end of the year.

\begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ PLANET MEDIA INC. } \\ \hline \multicolumn{2}{|c|}{ Shareholders' Equity } \\ \hline \multicolumn{2}{|c|}{ As at End of Year } \\ \hline Share capital: & \\ \hline & \\ \hline Shareholders' equity & \\ \hline \end{tabular}