1. Chan Corporation began operations on 2 July 2019, with a total investment of $150 000 by its shareholders. Net loss for its first year of business was $20 000. During 2021 and 2022, profit increased to $120 000 and to $150 000, respectively. Chan paid $50 000 per year in dividends to its shareholders in 2021 and 2022.

In good form, prepare a statement of changes in equity for the year ended 30 June 2022.