NER Corporation had the following beginning balances in its books for year 2019:

The following transactions occurred during the year: Jan 20 Declared a five-peso per share cash dividends to shareholders of record as of Feb 5. Feb 6 Increased the appropriation reserve for land to P400,000. Mar 20 Paid the dividends declared on January 20. May 17 Sold 1200 treasury shares at P27 per share. June 2 Declared a 10% scrip dividends plus 6% interest to shareholders of record as of July 2 to be paid on Dec. 2 Dec 2 Paid for the scrip dividends. 31 Net income for the year amounted to P490,000.

Required: 1. Journal entries to record the above transactions in the books of NER Coporation. 2. Prepare a Statement of Changes in Shareholders' Equity as at December 31, 2019. 3. Compute for Book value and Earnings per share.

P 4,000,000 Ordinary Shares, P20 par, 500,000 shares authorized 200,000 shares issued and outstanding Share Premium - Common Retained Earnings Total 1,500,000 6,300,000 P 11,800,000