The following is the 2016 Statement of Changes in Equity from the 2016 annual report of Keppel Corporation, a Singapore-based company that specializes in offshore and marine, infrastructure, and property businesses. Remember that for comparative purposes, two years are reported in these statements. The 2015 portion of the statement is not shown here for brevity of presentation. Share Capital $'000 Treasury Shares $'000 KEPPEL CORPORATION Statements of Changes in Equity For the financial year ended December 31, 2016 Attributable to owners of the Company Capital Revenue Foreign Reserves Reserves Exchange $'000 $'000 Translation Account $'000 Share Capital & Reserves $'000 Noncontrolling Interests $'000 Total Equity $'000 1,288,394 (49,011) (383,540) 10,379,320 (139,502) 11,095,661 830,198 11,925,859 783,928 Group 2016 As at January 1 Total comprehensive income for the year Profit for the year Other comprehensive income* Total comprehensive income for the year Transactions with owners, recognised directly in equity Contributions by and distributions to 432,924 432,924 783,928 291,639 1,075,567 (141,285) (141,285) 37,847 (21,577) 16.270 821,775 270,062 1,091,837 783,928 owners (544,654) 36,031 (544,654) 36,031 (544,654) 36,410 379 (77,263) (77,263) (3,069) (3,069) (3,069) 36,557 (35,428) 1,129 1,129 (38,503) 38.503 Dividends paid Share-based payment Dividend paid to non-controlling shareholders Purchase of treasury shares Treasury shares reissued pursuant to share plans and share option scheme Transfer of statutory, capital and other reserves to revenue reserves Cash subscribed by/ (return of capital to) non-controlling shareholders Contributions to defined benefits plans Total contributions by and distributions to owners Changes in ownership interests in subsidiaries Acquisition of subsidiaries Acquisition of additional interest in subsidiaries Disposal of interest in subsidiaries Other adjustments Total change in 9,403 9,403 (62,080) (52,677) 109 109 49 158 33,488 (37,791) (496,748) (501,051) (138,915) (639,966) (107) (74) (181) 514 (8,176) 514 (8,357) (36,247) (36,247) (107) (11,047) (11,121) (11,047) (11,228) 11,047 (32,862) (44,090) ownership (512,279) (171,777) (684,056) interests in subsidiaries Total transactions 33,488 (37,898) (507,869) with owners As at December 31 1.288,394 (15,523) 11,486 10,655,379 (280,787) *Details of other comprehensive income have been included in the consolidated statement of comprehensive income. 11,658,949 674,691 12,333,640 Required: 1. What is the purpose of the statement of changes in equity? 2. How does Keppel Corporation account for its share buybacks or share repurchases? Reconstruct the journal entry Keppel Corporation used to record the share repurchase for 2016 3. What is comprehensive income? What is other comprehensive income? 4. What caused the change in Keppel Corporation's comprehensive income in 2016? Complete this question by entering your answers in the tabs below. Required 2 How does Keppel Corporation account for its share buybacks or share repurchases? Reconstruct the journal entry Keppel Corporation used to record the share repurchase for 2016. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Date Debit Credit 1 2020 General Journal Ordinary share capital Paid-in capital-share repurchase Paid-in capital-share repurchase