Fairweather Manufacturing Ltd (FML) is a public company and was incorporated a number of years ago and has been very successful.

The equity section of the balance sheet of the company at the 30th June 20X3 is provided belowOWNERS' EQUITY

Issued Capital

Reserves

Retained profits

TOTAL OWNERS' EQUITY

The company's financial year ends on 30th June.

Additional Information:

1. Issuedcapitaliscomprisedof:

$

42,500,000 12,245,000 3,276,500 58,021,500

• 3,125,000 ordinary shares all issued at $8.00 each
• $17,500,000 of 2.5%pa preference shares. Dividends on these shares are
• paid six monthly on the first day of October and April each year. 2. Reservesiscomprisedof:
• General Reserve of $7,630,000
• Asset Revaluation Reserve of $4,615,000
• A list of ordinary shareholders and their holdings as at 30th June 20X3 is provided on the next page. Note:
• DRP = "Y" elected to be in the dividend reinvestment plan
• The amounts under 1/7/20X3 = number of shares held at that date
• (Ensure that you have fully read and understood the information previously provided under the Basic Details for the assignment.)