shareholders' equity 45.5A Developing Ltd has an authorised capital of 50,000, 10% preference shares of 1 each and 200,000 ordinary shares of 50p each. After preparation of the income statement for 2013, the following balances remained in the ledger: 000 Share capital: fully paid-up: 30 Preference 80 Ordinary 20 Loan notes 4 Share premium account 7 General reserve 3 Retained profits 2012 Net profit for 2013 140 Non-current assets Current assets 50 Accounts payable The directors recommend: (i) that 10,000 be transferred to general reserve, (ii) payment of the preference dividend, (iii) an ordinary dividend of 15%. Required: Prepare a statement of changes in equity for 2013 and a statement of financial position as at 31 December 2013. 27 19