The adjusted trial balance for Pansy Paints Ltd. at December 31, 2017, is presented below. Pansy's income tax rate is 25% and journal entries for income tax expense have not yet been prepared. There were no common share transactions during the year.

Instructions
(a) Prepare a statement of comprehensive income using the all-inclusive format. (Ignore earnings per share.)
(b) Prepare a statement of changes in shareholders' equity.
(c) Prepare the shareholders' equity section of the balance sheet at December 31, 2017.
TAKING IT FURTHER
Explain the two methods of preparing a statement of comprehensive income. Is one method better than the other?

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PANSY PAINTS LTD. Adjusted Trial Balance December 31, 2017 Debit Credit Accounts payable Accounts receivable $54,620 $35,430 Accumulated depreciation-equipment Accumulated depreciation-building Accumulated other comprehensive income (loss)-January 1, 2017 Advertising expense Building 24,300 145,500 7,860 425,000 180,000 15,000 Cash dividends-common Common shares (18,000 issued) Contributed surplus-reacquisition of common shares Cost of goods sold Depreciation expense Dividends payable Equipment Gain on sale of equipment Interest expense Income tax expense Income tax payable Merchandise inventory Other comprehensive income-loss on equity investment 255,000 7,500 412,000 29,000 95,000 4,650 1,000 850 83,460 (before income tax) Office expense Retained earnings-January 1, 2017 5,400 11,000 35,030 780,000 $1,303,800 $1,303,800