Zen Aerospace Corporation reported the following equity account balances on December 31, 2016:

Preferred shares, $3.60 cumulative, unlimited shares authorized	$ 0
Common shares, unlimited shares authorized, 27,000 shares issued and outstanding	745,200
Retained Earnings	338,000

In 2017, the company had the following transactions affecting shareholders and the shareholders equity accounts:

Jan.	1		Purchased and retired 3,400 common shares at $36 per share.
	14		The directors declared a 11% share dividend distributable on February 5 to the January 30 shareholders of record. The shares were trading at $47.00 per share.
	30		Date of record regarding the 11% share dividend.
Feb.	5		Date of distribution regarding the 11% share dividend.
July	6		Sold 6,400 preferred shares at $74 per share.
Sept.	5		The directors declared a total cash dividend of $48,013 payable on October 5 to the September 20 shareholders of record.
Oct.	5		The cash dividend declared on September 5 was paid.
Dec.	31		Closed the $479,600 credit balance in the Income Summary account to Retained Earnings.
	31		Closed the dividend accounts.

Prepare the statement of changes in equity for the year ended December 31, 2017. (Amounts to be deducted should be indicated by a minus sign. Round the final answer to the nearest whole dollar.)

Thank You!

Zen Aerospace Corporation reported the following equity account balances on December 31, 2016: Preferred shares, $3.60 cumulative, unlimited shares authorized Common shares, unlimited shares authorized, 27,000 shares issued and outstanding Retained Earnings $ 0 745,200 338,000 In 2017, the company had the following transactions affecting shareholders and the shareholders' equity accounts: Jan. 1 Purchased and retired 3,400 common shares at $36 per share. 14 The directors declared a 11% share dividend distributable on February 5 to the January 30 shareholders of record. The shares were trading at $47.00 per share. 30 Date of record regarding the 11% share dividend. Feb. 5 Date of distribution regarding the 11% share dividend. July 6 Sold 6,400 preferred shares at $74 per share. Sept. 5 The directors declared a total cash dividend of $48,013 payable on October 5 to the September 20 shareholders of record Oct. 5 The cash dividend declared on September 5 was paid. Dec. 31 Closed the $479,600 credit balance in the Income Summary account to Retained Earnings. 31 Closed the dividend accounts. Retained Earnings Total Equity $ 0 ZEN AEROSPACE CORPORATION Statement of Changes in Equity For Year Ended December 31, 2017 Preferred Common Shares Shares Balance, January 1 Common shares dividend Common cash dividends Purchased and retired common shares Preferred shares issued Preferred cash dividends Profit 0 0 0 0 0 0 Balance, December 31 $ 0 $ 0 $ 0 $ 0