The adjusted trial balance for Aster Automobiles Inc. at December 31, 2017, is presented below. Aster'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 on anal inclusive basis. (Ignore earnings per share.)
(b) Prepare a statement of changes in shareholders' equity for the year.
(c) Prepare the shareholders' equity section of the balance sheet at December 31, 2017.
TAKING IT FURTHER
Why is it important to report the changes that took place in shareholders' equity during the year?

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ASTER AUTOMOBILES INC. Adjusted Trial Balance December 31, 2017 Debit Credit $44,620 14,300 Accounts payable Accounts receivable Accumulated depreciation-equipment Accumulated depreciation-building Accumulated other comprehensive income (loss)-anuary 1, 2017 Advertising expense Building Cash Cash dividends-common Common shares (10,000 shares issued) Contributed surplus-reac 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 $25,430 95,500 5,860 375,000 170,000 5,000 245,000 quisition of common shares 356,000 19,000 85,000 2,650 73,460 (before income tax) Office expense Retained earnings-January 1, 2017 Sales 3,400 9,000 53,180 670,000 $1,129,800 $1,129,800