45.5A Developing Ltd has an authorised capital of 100,000, 8% preference shares of 1 each and 400,000 ordinary shares of 50p each. After preparation of the statement of profit or loss for 2017, the following balances remained in the ledger: 000 Share capital: fully paid-up: Preference 70 Ordinary 140 Loan notes 30 Share premium account 6 General reserve 12 Retained profits 2016 9 Net profit for 2017 Non-current assets 228 Current assets 110 Accounts payable 26 The directors recommend: () that 18,000 be transferred to general reserve, (ii) payment of the preference dividend, (iii) an ordinary dividend of 12%. Required: Prepare a statement of changes in equity for 2017 and a statement of financial position as at 31 December 2017. 45