Rainy Day Umbrella Corporation had the following balances at December 31, 2022 (all amounts in thousands): preferred shares, $3,375; common shares, $8,903; contributed surplus, $3,744; retained earnings, $23,040; and accumulated other comprehensive income, $2,568.
During the year ended December 31, 2023, the company earned net income of $7,320,000, generated an unrealized holding gain on FV-OCI investments of $585,000, sold common shares of $285,000, and paid out dividends of $30,000 to preferred shareholders and $20,000 to common shareholders.

Instructions 

a. Prepare a statement of changes in equity for the year ended December 31, 2023. 

b. Prepare the shareholders’ equity section of the Rainy Day Umbrella statement of financial position as at December 31, 2023. Gains/losses on FV-OCI investments are not recycled through net income.