The following is an extract from the books of Freight Express Company Ltd taken on 31 December 2018.

share capital issued: Ordinary shares at $1                                                                         8% preference shares at $2	$150000 $100000
Retained profits for the year after taxation	$186000
General Reserve	$95000
Retained Profits from previous year	$124000

The board of directors proposed the following :

$50000 is to be transferred to General Reserve.

Dividend of 20% proposed for ordinary shares.

Preference shares dividend to be settled in full.

(A) Draw up the statement of changes in Equity for Freight Express Company Ltd for the year ended 31 December 2018.

(B) The Authorized share capital of Freight Express Company Ltd is as follows.

250000 ordinary shares at $1 Each

100000 eight per cent preference shares at $2 each

Use all relevant data previously given to prepare an extract of the statement of Financial Position(Balance Sheet),to show only the equity section,for Freight Express Company Ltd as at 31 December 2018.