The following is a pre-closing trial balance for Kalico Kats, as at December 31, 2021:

During the year, the company declared and paid $500,000 of dividends and issued shares for proceeds of $5,000,000. 

Required:

Prepare, in good form, the following:

a. A statement of comprehensive income that includes net income and comprehensive income in one schedule.

b. A statement of changes in equity.

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Accounts payable Accounts receivable Accumulated depreciation equipment Accumulated depreciation-plant Cash Common shares Depreciation equipment Depreciation plant Equipment Income tax expense Income tax on income from discontinued operations Interest expense Inventories Land-cost Land-revaluation adjustment Long-term debt Loss from discontinued operations Other comprehensive income-gain on land revaluation Plant Raw materials used Retained earnings Salaries and wages Sales Utilities expense Total Debit $ 2,860,000 1,009,800 580,000 500,000 5,800,000 537,200 165,000 645,000 5,000,000 3,000,000 500,000 10,000,000 4,670,000 7,210,000 876,000 $43,353,000 Credit $ 1,235,000 1,740,000 1,500,000 15,000,000 200,000 3,500,000 3,000,000 1,834,000 15,344,000 $43,353,000