P has two group companies, S and A. The income statements for P, S and A for the year ended 31 December 2021 are given as follows: Income statements for the year ending 31 December 2021 P Sales Cost of sales 40,500,000 22,950,000 16,200,000 (15,930,000) (7,965,000) (4,320,000) Gross profit 24,570,000 14,985,000 11,880,000 Investment income 1,255,000 Management fee 3,915,000 income Administrative (2,738,250) (3,795,000) (2,790,000) expenses Distribution costs (1,260,000) (1,173,000) (517,500) Interest income 675,000 Interest expense (135,000) (243,000) Profit before tax 26,281,750 9,774,000 8,572,500 Tax Profit after tax (1,350,000) (945,000) 24,931,750 8,829,000 (1,269,000) 7,303,500 P Ltd acquired 60% of S Ltd on 1 January 2015 for $3,024,000, gaining significant influence over S Ltd. On this date, the share capital of S Ltd was 900,000 and the retained earnings of S Ltd was $1,845,000. P Ltd acquired 25% of A Ltd for $2,700,000 on 1 January 2017, gaining partial influence over A Ltd. A Ltd's share capital and reserves were $1,015,000 on 1 January 2017. The share capital of A Ltd is 180,000 50c shares. The interest income in P Ltd includes interest income on its 80% holding of bonds issued by S Ltd. P Ltd acquired these bonds without any goodwill arising, on 1 January 2017. The interest expense recorded by S Ltd represents the interest on the full bond issue. All companies have accounted for interest income and interest expense correctly. During the year S Ltd sold goods costing $27,000 to P Ltd for $189,000. 15% of this inventory is included in P Ltd's inventory at the year end. During the year A Ltd sold goods costing $81,000 to P Ltd for $108,000. 50% of this inventory is still in P Ltd's inventory at the year end. Goodwill is capitalised. Impairment of 30% of the value of the goodwill of S Ltd was recognised in 2019 and impairment of 50% of the value of the goodwill in A Ltd is recognised in 2021. At the year-end P Ltd charges both S Ltd and A Ltd a management fee of 10% of turnover. The companies have accounted for the management fee correctly. The management fee income in P Ltd represents management fee income from S Ltd and A Ltd. S Ltd and A Ltd have accounted for management fee expenses under administrative expenses. The investment income in P Ltd comprises of dividend income from both group and non-group companies. The retained earnings brought forward as at 1 January 2021 and dividend expense for the year ended 31 December 2021 for P Ltd, S Ltd and A Ltd were as follows: P Ltd $ Retained earnings 21,720,000 2,700,000 brought forward Dividend expense 810,000 225,000 S Ltd A Ltd $ $ 1,800,000 100,000 Required: Prepare the consolidated statement of changes in equity for P Ltd for the year ended 31 December 2021