Audit of SHE

PROBLEM 4 (MWE COMPANY): The shareholders' equity section of MWE Company's statement of nancial position as of December 31, 2022, is as follows: 5 Ordinary share capital. P10 par value (authorized 2.000.000 shares. issued and outstanding 400,000 shares) \"000,000 g\"as;sssasaasss'agseaassesses;sass """ """"""""""""" : [authorized 1.000.000 shares, issued 200,000) : 1.000.000 : t's'tssaasssi'aasas """""""""""""""""""" """""""" 1' states; SharprrniumPefrred """"""""""""""""""" 600000 masses seamstressssrvsassaaas """"" """""""" foamy; mansions; """"""""""""""""""""""""" """""""" strata; Host: """"""""""""""""""""""""""""""" """""" assess? The following transactions occurred during 2023: Ian. 5 The company issued for P2,350.000, 100.000 ordinary shares and 50.000 preferred shares. The company incurred share issue cost at P150,000. The ordinary shares were currently selling at P15 per share while the preferred shares at P10. Feb. 16 50.000 previously unissued preferred shares were subscribed at P12 per share. Mar. 25 20.000 previously unissued ordinary shares were issued in exchange for an equipment with a fair market value of [$00,000. The company incurred share issue costs at P20.000. Apr. 20 Reacquired 40.000 ordinary shares as treasury shares at P18 per share. May 5 The company declared a 3-for-2 stock split on ordinary shares lun. 30 The company declared and paid cash dividends to preferred shares based on the stated dividend rate and P050 cash dividends to ordinary shareholders. Jul. 30 Reissued half of the treasury shares at P16 per share. Aug. 30 A 10% ordinary stock dividend was declared and issued to ordinary shareholders at a time when the market value is at P17 per share. Sep. 15 Collected full payments on 80% of the preferred shares subscribed on February 16 on the due date. The remainder of the subscribers on the preferred shares defaulted, Dec. 15 The company declared and paid P0370 cash dividends to ordinary shareholders. Dec. 31 The company's investment in equity securities (originally acquired at a total cost of P1300000) had a total fair value of 131.5 00,000 at yearend. There were no acquisitions or disposals of investments during the year. Dec. 31 Net income reported for the year amounted to P3.510,0-00. Requirement: 1. How much is the total contributed capital as of December 31, 2023? 2. How much is the retained earning -unapproprlated as of December 31, 2023? 3. The number of shares outstanding on December 31. 2023 for ordinary 8: preference respectively? 4. How much is the total shareholders equity as of December 31 , 2023? 5. Assuming the preference share is cumulative. participating and with liquidation premium of 6 per share. What is the book value per share of ordinary and preference respectively at the end of 2023