In May 2020, GSW was incorporated with 3,000,000 authorized shares of P10 par value common shares and 300,000 of its common shares were issued for P3,300,000. Net income through December 31, 2020 was P125,000 .

On July 23, 2021, when the shares were selling for P13 per share, GSW issued 500,000 of its common shares in exchange for real estate whose fair value was P6,250,000. On October 2, 2021, a dividend was declared in 5% shares to shareholders of record on October 23, 2021. The market value of the common shares was P11 per share at the reporting date. GSW's net income for the year ended December 31, 2021 was P350,000.

During 2022, GSW made the following transactions:

1. In February, GSW repurchased 15,000 of its own shares at P12 per share.
2. In June, GSW sold 15,000 of its own shares at P12 per share.
3. In September, each shareholder was granted (for each share held) a right to purchase two additional common shares for P13 per share. The rights will expire on December 31, 2022.
4. 250,000 share rights issues were exercised in October when the market value of common shares was P14 per share.
5. 400,000 share rights issues were exercised in November when the market value of common shares was P15 per share.
6. On December 15, GSW declared its first cash dividend to shareholders of P0.30 per share, payable on January 10, 2023, to shareholders of record on December 31, 2022.
7. On December 31, GSW withdrew 10,000 of its own shares and reversed them unissued. The market value of the common shares was P16 at this date.
8. The net income for 2022 was P800,000.

Question 1: The December 15 cash dividend statement includes how much  charge to retained earnings?

Question 2: What is the adjusted share premium account?

Question 3: What is the balance of adjusted retained earnings?

Question 4: The total shareholders' equity as of December 31, 2022 is?