Refer to the data for Peninsula Supply Corporation presented in BE14.11. 

(a) Prepare the statement of changes in shareholders’ equity for the year ended December 31, 2024. 

(b) Prepare the shareholders’ equity section of the balance sheet at December 31, 2024.

Data from BE14.11.

Peninsula Supply Corporation provided the following schedule detailing the changes in the shareholders’ equity accounts during 2023 and 2024. Determine the missing amounts. 

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Common shares, unlimited authorized Balance, January 1 Issued shares for cash Reacquired shares Balance, December 31 Contributed surplus-reacquisition of common shares Balance, January 1 Reacquired common shares Balance, December 31 Retained earnings Balance, January 1 Profit (loss) for the year Common dividends-Cash Balance, December 31 Accumulated other comprehensive income Balance, January 1 Other comprehensive income (loss) for the year Balance, December 31 Shareholders' equity, December 31 2024 Number of Shares Amount 500,000 50,000 (25,000) (a) $ (b) 32,500 603,750 15,000 8,000 (d) 179,500 22,500 (e) 181,000 51,000 (f) 68,000 $ 2023 Number of Shares Amount 500,000 500,000 $600,000 0 0 600,000 15,000 0 15,000 190,000 (h) (30,000) 179,500 (i) (3,000) 51,000 (j)