The following data pertain to the Jessa Corporation as at March 1:

Share Capital Stock, par P10 P2,000,000

Share Premium 100,000

Retained Earnings 500,000

The following transaction took place;

Mar. 10 2,000 shares were reacquired at P12 per share.

May 15 1,000 of the reacquired shares were sold at P14 per share

June 12 500 of the treasury shares were sold at P11 per share

July 25 Some shareholders donated 1,000 shares.

August 1 The donated shares were sold at P15 per share.

Nov. 1 2,000 shares were reacquired in exchange for merchandise with a cost price of P20,000 and market value of P30,000.

Dec. 5 500 of the shares acquired on Nov. I were sold at P15 per share.

10 The remaining March 10 treasury shares were retired.

31 Income summary showed a credit balance of P350,000. Part of the retained earnings equal to the cost of the remaining treasury shares were restricted under the title "Reserve for Treasury Stock."

Direction: a) Prepare a table tracking down the movement of the stocks. Start with the March 1 balances

. b) Journal entries c

) Prepare the shareholders' equity section as of December 31, 2015.