The equity section of the statement of financial position of Specter Ltd at 30 June 2019 discloses:

	2019
Share Capital	1,800,000
General Reserve	50,000
Revaluation Surplus	120,000
Retained Earnings	340,000
TOTAL	2,310,000

During 2020 financial year:

(a) Specter Ltd issued 50,000 shares at $1 each during the year

(b) Profit for the year was $150,000

(c) Dividends paid during the year were $40,000

(d) A transfer of $200,000 was made from retained earnings to general reserve during the year

(e) Land was revalued by $400,000 during the year

(f) Tax rate was 30%

The balances of the equity accounts at 30 June 2020 are:

		Share capital $1,850,000; General Reserve $250,000; Revaluation Surplus $400,000; and Retained Earnings $250,000.
		Share capital $1,850,000; General Reserve $50,000; Revaluation Surplus $400,000; and Retained Earnings $450,000.
		Share capital $1,750,000; General Reserve $250,000; Revaluation Surplus $520,000; and Retained Earnings $250,000.
		Share capital $1,800,000; General Reserve $50,000; Revaluation Surplus $520,000; and Retained Earnings $450,000.