Context Corporation reports the following components of shareholders equity on December 31, 2015.

Share CapitalOrdinary, $25 par value, 100,000 shares authorized, 40,000 shares issued and outstanding	$	1,000,000
Share PremiumOrdinary		70,000
Retained earnings		430,000
Total shareholders' equity	$	1,500,000

In year 2016, the following transactions affected its shareholders equity accounts.

Jan.

1

Purchased 4,000 of its own shares at $15 cash per share.

Jan.

5

Directors declared a $2 per share cash dividend payable on February 28 to the February 5 shareholders of record.

Feb.

28

Paid the dividend declared on January 5.

July

6

Sold 1,500 of its treasury shares at $19 cash per share.

Aug.

22

Sold 2,500 of its treasury shares at $12 cash per share.

Sept.

5

Directors declared a $2 per share cash dividend payable on October 28 to the September 25 shareholders of record.

Oct.

28

Paid the dividend declared on September 5.

Dec.

31

Closed the $408,000 credit balance (from net profit) in the Income Summary account to Retained Earnings.

2.

Prepare a statement of changes in equity for the year ended December 31, 2016. (Amounts to be deducted should be indicated by a minus sign. Omit the "$" sign in your response.)

CONTEXT CORPORATION Statement of Changes in Equity For Year Ended December 31, 2016
$	Share Capital	Share Premium	Retained Earnings	Total Equity