The Sawgrass Corporation, a public company, reported the following balances at January 1, 2017:

During the year ended December 31, 2017, the following summary transactions occurred:

(a) Prepare a statement of changes in shareholders' equity for the year as required under IFRS.
(b) Prepare the shareholders' equity section of the statement of financial position at December 31.
(c) How would the answer to parts (a) and (b) be different if Sawgrass prepared financial statements in accordance with ASPE?

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Common Shares (32,000 shares issued, unlimited authorized) Retained Earnings Contributed Surplus Accumulated Other Comprehensive Income $800,000 1,500,000 145,000 40,000 $400,000 25,000 17,500 Net income earned during the year Unrealized gain on fair value through other comprehensive income (FV-OCI) investments Reduction of contributed surplus during the year due to repurchase of common shares Reduction of common shares account balance during the year due to repurchase of 1,000 common shares Dividends declared during the year on common shares Issued 2,000 common shares during the year 25,000 70,000 100,000