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Question - Tote Ltd. reported the following balances on January 1, 2020:
Common shares $740,000
Retained earnings 140,000
Accumulated other comprehensive income 142,000
During the year Tote earned a net income of $6200,000 and generated other comprehensive income of $128,000.
Required - Prepare a statement of shareholders' equity in a tabular form for the year ended December 31, 2020.
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Determine the annual depreciation expense amount (No Journal Entry Required) to be reported on December 31, 2020 under p IFRS requirements
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