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E4-8 Preparing a statement of changes in equity [510 min] Selected accounts of Guitars by Peter for the year ended 31 December 2015 follow: Peter,

E4-8 Preparing a statement of changes in equity [510 min] Selected accounts of Guitars by Peter for the year ended 31 December 2015 follow: Peter, capital Peter, drawings Income summary Clo 31000 Jan 1 152000 Mar 31 10000 Clo 100000 Clo 220000 Clo 120000 Jun 30 7000 Clo 120000 Bal 120000 Bal 241000 Sep 30 8000 Dec 31 6000 Bal 31 000 | Clo 31000 Requirement Prepare the business's statement of changes in equity for the year

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