8. The capital accounts of Kay, Inc. on December 31, 2011 are listed below. What was the total shareholders' equity on December 31, 2012? 2 points Preference Share Capital, P20 par, 20,000 shares Ordinary Share Capital, P80, 50,000 shares Share Premium-Preference Share Premium-Ordinary Retained Earnings P400,000 4,000,000 160,000 600,000 360,000 During the year ending December 31, 2012, the following summarizes the transactions affecting the shareholders' equity: April 30 1,000 preference shares were retired at P25 per share. June 15 2,000 treasury shares were purchased at P85 per share. June 30 A 2-for-1 share split of the company's ordinary share was declared. July 31 800 treasury shares were reissued at P50 per share. Dec. 31 Profit for 2012 was P900,000. a. P6,294,000 b. P6,270,000 c. P6,265,000 d. P5,520,000