Absolute Corporation had the following balances on January 1, 2020: Share Capital - Preference, P10 par, 5,000 shares issued Share Capital - Ordinary, P10 par, 20,000 shares issued Share Premium - Preference Share Premium - Ordinary Retained Earnings TOTAL P 50,000 200,000 25,000 75,000 100,000 P500,000 The following transactions were recorded by Absolute Corporation during 2020: March 1 Issued 3,000 ordinary shares at P30 per share. June 30 Issued 500 preference shares at P10 per share. July 1 Reacquired 500 ordinary shares at P18 per share. September 30 Reissued 200 ordinary treasury shares at P25 per share. December 24 Declared cash dividends of P30,000 to preference shares and P70,000 to ordinary shares payable on January 15, 2021 to all outstanding shares of record of December 31, 2020 December 31 Recorded 2020 net profit before income tax of P750,000. Applicable income tax rate is 30%. Required: Prepare a statement of changes in equity for the year ended December 31, 2020