Berkshire Ltd provided you (as the accountant) with this information from their accounting records as at 1 July 20x0:

The following information is available for the financial year ended 30 June 20x1:

1. The company issued 50 000 ordinary shares @ R2.50 each to redeem all the preference shares at R1.00/share.

2. A transfer of R80 000 was made to asset replacement reserve.

3. Machinery was revalued during the year resulting in a R120 000 increase in the revaluation surplus.

4. The profit for the period amounted to R1 400 000 before the payment of the preference dividend of R150 000 and the ordinary dividend of R30 000.

You are required to:

Prepare the statement of changes in equity for Berkshire Ltd for internal use for the year ended 30 June 20x1.

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250 000 ordinary share capital 100 000 redeemable preference share capital Revaluation surplus Asset replacement reserve Retained earnings 550 000 00 100 000 00 280 000 00 200 000 00 800 000 00