Brubacher Corporation's post-closing trial balance at December 31, 2020, was as follows: 

At December 31, 2020, Brubacher had the following numbers for its common and preferred shares: 

The dividends on preferred shares are $5 cumulative. In addition, the preferred shares have a preference in liquidation of $50 per share. 

Instructions 

Prepare the shareholders' equity section of Brubacher's SFP at December 31, 2020. The company follows IFRS.

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Brubacher Limited Post-Closing Trial Balance December 31, 2020 Dr. Cг. Accounts payable $ 310,000 Accounts receivable $ 480,000 Accumulated depreciation-buildings 185,000 Accumulated other comprehensive income 100,000 Allowance for doubtful accounts 30,000 Bonds payable 300,000 Buildings 1,450,000 Cash 190,000 Common shares 200,000 Contributed surplus-common 1,460,000 Dividends payable on preferred shares 4,000 FV-NI investments 200,000 Inventory 360,000 Land 400,000 Preferred shares 500,000 Prepaid expenses 40,000 Retained earnings 201,000 Treasury shares (10,000 common shares) 170,000 Totals $3,290,000 $3,290,000