Below are details relating to balances for the equity accounts of Mark’s Photography Company and changes to those balances (note that AOCI is accumulated other comprehensive income).

Required:
Prepare a statement of changes in equity for the years ended December 31, 2021 and 2022. The following format will be helpful for preparing this statement for each of the two years.

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Balances or changes Preferred shares, Jan. 1, 2021 Common shares, Jan. 1, 2021 Contributed surplus, Jan. 1, 2021 Retained earnings, Jan. 1, 2021 AOCI from revaluations, Jan. 1, 2021 Amount ($000's) 100,000 200,000 5,000 150,000 10,000