Greystanes Pty Ltd uses a periodic inventory system and closes its accounts on 30 June each year. The company's closing entries made on 30 June 2019 were as shown below. June 10 200 26 400 80 630 2 450 20060 265 320 30 42 150 30 30 Manufacturing Summary 405 060 Beginning Raw Materials Inventory Beginning Work in Process Inventory Raw Materials Purchases Freight Inwards Direct Labour Factory Overhead Ending Raw Materials Inventory 12 400 Ending Work in Process Inventory 29 750 Manufacturing Summary Profit or Loss Summary 523 510 Beginning Finished Goods Inventory Selling and Distribution Expenses Administrative Expenses Finance and Other Expenses Manufacturing Summary (COGM) Ending Finished Goods Inventory 28 400 Sales 680 500 Profit or Loss Summary Profit or Loss Summary 185 390 Retained Earnings (Profit for the period) 32 000 61 800 54 300 12 500 362 910 30 708 900 30 185 390 Required A. Prepare a cost of goods manufactured statement for the year ended 30 June 2016. B. Prepare an income statement for the year ended 30 June 2016. Field & Paxton Ltd's equity at 30 June 2016 was as follows: 250 000 ordinary shares, issued at $3.20, fully paid 580000 800 000 ordinary shares, issued at $3.40, called to $2.40 1 920 000 180 000 redeemable preference shares, issued at S1, fully paid 180 000 Calls in advance (20 000 ordinary shares) 20 000 Share issue costs (11 500) General reserve 60000 Retained earnings 425 000 The following events occurred during the year ended 30 June 2020: 2019 July 15 Aug 31 Sept. 20 The final call, due 31 August, was made on the partly paid shares. All call money was received. Paid the final dividends declared on 30 June, 2019 (ordinary: 18c per fully paid equivalent share, and preference: 9%) declared on 30 June 2019. Declaration and payment of a 9c per fully paid equivalent share interim dividend on ordinary shares. A prospectus was issued, inviting applications for 150 000 ordinary shares at an issue price of $2.30, payable in full on application. The issue closed fully subscribed, with all money due having been received The 150 000 shares were allotted. The directors declared a final dividend of 15 per share (payable on 20 September 2020), and transferredS100 000 to the general reserve. Dec 10 2020 Jan 3 Jan 31 Feb. 5 June 30 Required A. Prepare journal entries (in general journal form) to record the transactions. 8. Prepare a statement of changes in equity for the year ended 30 June 2020, assuming profit for the year was $86 000