Manet plc had the following share capital and reserves as at 1 June 2014: ......................................................................................m Share capital

Question:

Manet plc had the following share capital and reserves as at 1 June 2014:
......................................................................................£m
Share capital (£0.25 ordinary shares) .....................250
Share premium account .............................................50
Revaluation reserve ..................................................120
Currency translation reserve .....................................15
Retained earnings .....................................................380
Total equity ................................................................815
During the year to 31 May 2015, the company revalued property, plant and equipment upwards by £30 million and made a loss on foreign exchange translation of foreign operations of £5 million. The company made a profit from normal operations of £160 million during the year and the dividend was £80 million.

Required:
Prepare a statement of changes in equity for the year ended 31 May 2015 in accordance with the requirements of IAS 1 Presentation of Financial Statements.

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...