On $31$ December $20$X$6,$ Wave Exploration Ltd$.$ reported the following in shareholders$$ equity:

Retained earnings $890,000$

Accumulated other comprehensive income re: FVTOCI investments $55,000$

Accumulated other comprehensive income re: foreign currency $(225,000)$

Comprehensive income for $20$X$7$ is as follows:

Earnings $ $298,000$

Other Comprehensive Income:

Change in fair value of FVTOCI investments $(26,400)$

Foreign exchange gain on foreign subsidiary $40,800$

Comprehensive income $ $312,400$

Required:

$1.$ Calculate the balance in each equity account, reflecting disposition of $20$X$7$ comprehensive income.

$2.$ This part of the question is not part of your Connect assignment.