this almost exactly what I did. What have i done wrong

Donalty Corporation. Statement of Changes in Equity Year Ended December 31, 2022 Common Retained Shares Earnings Total Equity Balance, Jan, 1 51000 $ 52200 $ 10320 Issued common shares 51000 5100 53200 5320 Net Income/(Loss) -1000 -1000 Dividends Declared 102000 $ 104400 $ 20640 Balance. Dec 31 Daralty Corporation opened for business on January 1, 2022. The following information is available with regards to their account of December 31, 2022 Account the $2.500 Accounts receivable $5.500 Administrative expenses $4.500 Bank loan 555.000 Canh $130.200 Commons 551000 Dividends declared $1.000 Equipment 525.000 Insurance experi $4.800 Interest expense $4.000 Revenue 5145.000 Salaries expense $78.500 The following information was also available for the year Interest expense $4,000 Revenue $145,000 Salaries expense $78.500 The following information was also available for the year . . . Net cash used by operating activities was $50.200 Cash of $25.000 was paid to purchase new equipment Cash of 551.000 was received from the issue of common shares Cash of $55,000 was received from the bank loan Cash of $1,000 was declared and paid for dividends. Done Answer 1 of 1 Profit for the period Particulars Amountain S) Revenue 145,000 Less: Costs Insurance Expense Interest Expense Administrative Expense Salaries Expense Total Expense 4,800 4,000 4,500 78,500 91,800 Profit for the period 53,200 Statement of changes in equity Particulars Common Shares Ret Balance 01 Jan 2022 S Issued Common Shares s 51,000 Net Income S Less : Dividends Declared and Paid S Balance ,31 Dec 2022 s 51,000S In the given case, Common shares balance in trial balance is $ 51,000. If we read the same along with the additional information, we can understood that the entire common shares are issued during the period. Hence opening balance in common shares is "Zero". In the same way, Retained earnings opening balance is Nil. I hope this can be helpful for your undestanding. if not please let us know through comment. Thanks and Regards