Statement of shareholders' equity from the balance sheet and statement of comprehensive income of Tech International Inc. are as follows.

Tech International Inc. Balance Sheet (Partial) December 31, 2013 Shareholders equity Share capital Common shares, unlimited number authorized, 1,000,000 shares issued $2.980.000 Contributed surplus - reacquisition of common shares 20,000 3,000,000 Retained earnings Accumulated other comprehensive income 190,000 385,700 Total shareholders' equity $3,575,700 Tech International Inc. Statement of Comprehensive Income Year Ended December 31, 2014 Profit $349,800 Other comprehensive income Gain on equity investments, net of $132,000 of income tax expense 198,000 Comprehensive income $547,800 During 2014, Tech International (TI) entered into a number of transactions that affected its shareholders' equity accounts, as follows:

1. On January 21, TI reacquired 26,000 common shares for $115,000.

2. On March 4. TI declared a 4% stock dividend to be distributed on April 10 to shareholders of record on March 20. The fair value of its share on March 4 was $4.75.

3. On September 22, TI sold 50,000 common shares at $7.00 per share.

4. On November 9, TI declared cash dividends of $90,000 to be paid on January 2, 2015, to shareholders of record on December 7, 2014. It was also determined that cost of goods sold had been overstated by $70,000 in 2013. TI's income tax rate is 40%.