Shareholders' Equity Section
Mackenzie Corporation's Post-Closing Trial Balance at December $~~~~~~~~$

Shareholders' Equity Section
Mackenzie Corporation's post-closing trial balance at December 31, 2020 was as follows: $~~~~~~~~$$~~~~~~~~$$~~~~~~~~~~~~~$$~~~~~~~~$$~~~~~~~~$$~~~~~~~~$$\textbf{ MACKENZIE LIMITED }$
$~~~~~~~~$$~~~~~~~~$$~~~~~~~~$$~~~~~~~~$$~~~~~~~~$$~~~~~~~~$$\textbf{ Post-Closing Trial Balance }$
$~~~~~~~~$$~~~~~~~~$$~~~~~~~~~~~~~$$~~~~~~~~$$~~~~~~~~$$~~~~~~~~$$\textbf{ December 31, 2020 }$

$\begin{array}{l } & \text{\underline{\text{ Dr.}} } & \text{\underline{\text{ Cr . }} } \\\text{ Buildings } & \$ 2,175,000 & \\\text{ Accounts receivable } & 720,000 & \\\text{ Land } & 600,000 & \\\text{ Inventories } & 540,000 & \\\text{ FV-NI investments } & 300,000 & \\\text{ Cash } & 285,000 & \\\text{ Treasury shares (15,000 common shares) } & 255,000 & \\\text{ Prepaid expenses } & 60,000 & \\\text{ Contributed surplus - common } & & \$ 2,190,000 \\\text{ Preferred shares } & & 750,000 \\\text{ Accounts payable } & & 465,000 \\\text{ Bonds payable } & & 450,000 \\\text{ Ret ained earnings } & & 301,500 \\\text{ Commonshares } & & 300,000 \\\text{ Accumulated depreciation - buildings } & & 277,500 \\\text{ Accumulated other comprehensive income } & & 150,000 \\\text{ Allowance for doubtful accounts } & & 45,000 \\\text{ Dividends payable on preferred shares } &\underline{\text{ ---------------- }} &\underline{\text{6,000 }} \\\text{ Totals } &\underline{\text{ \underline{\text{\$ 4,935,000 }} }} & \underline{\text{ \underline{\text{ \$ 4,935,00}} }} 0 \\ \end{array}$ At December 31, 2020, Mackenzie had the following numbers for its common and preferred shares: $\begin{array}{lrll} & \text {\underline{\text{ Common }} } & & \text {\underline{\text{ Freferred }} } \\ \text { Authorized } & 900,000 & & 90,000 \\\text { Issued } & 300,000 & & 15,000 \\\text { Outstanding } & 285,000 & & 15,000\end{array}$ The dividends on preferred shares are $ 7.50 cumulative and participating.
Instructions
Prepare the shareholders' equity section of Mackenzie's statement of financial position at December 31, 2020. The company follows IFRS.