The Blue Canoe Limited reported the following changes to its shareholders' equity accounts for the year ended December 31, 2012.

Instructions
(a) Prepare a statement of shareholders' equity for the year.
(b) Prepare the shareholders' equity section of the balance sheet at December 31.

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Accumulated other compre hensive income: Retained earnings: S 40,000 65,000 Balance, Jan. 1 Balance, Dec. 31 Foreign currency Balance, Jan. 1 Balance, Dec. 31 Profit Dividends $1,500,000 1,830,000 400,000 (70,000) translation gain 25,000 Other contributed capital: Share capital: Balance, Jan. 1 Balance, Dec. 31 Reacquisition of shares 540,000 485,000 (55,000) Balance, Jan.1 (32,000) Balance, Dec. 31 (33,000) Reacquisition and retirement of shares (1,000) Shares issued (2,000) 800,000 955,000 (25,000) 180,000