The following was obtained from the ledger of Crocodile Apparel Ltd as at 30 June 2025.

Required

(a) Prepare a statement of changes in equity for Crocodile Apparel Ltd for the year ended 30 June 2025.

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Share capital 200 000 ordinary shares paid to 80c, but issued for $1 120 000 10% preference shares fully paid at $1 Calls in advance General reserve $ 160 000 120 000 10 000 Retained earnings 1/7/24 Profit for year (before tax) 40 000 32 000 110 000 16 000 Interim dividend paid on ordinary shares (1/1/25) End-of-year adjustments 1. Income tax expense of $32 400 is to be recognised. The company pays tax in one instalment annually. 2. Declare a dividend on the preference shares for the current year. 3. Declare a final dividend on ordinary shares of $6 000. No ratification is required at the annual meeting. 4. Transfer $10 000 from the general reserve to retained earnings.