The following section is taken from Clegg Ltd's Statement of Financial Position at 30 June 2016. Share Capital Revaluation reserve Currency translation Reserve Retained Earnings $8,000,000 75,000 (22,000) 210,000 Additional information: 1. Extract from Clegg Ltd's Total Comprehensive Income Statement for the year ending 30 June 2017. EBIT $ Net Profit After Tax $260,000 Comprehensive Income Currency Translation valuation ($30,000) Total Income $230,000 2. Eight million shares @ $1 per share were issued to the public on 1 July 2010. 3. Interim cash dividends of $60,000 were declared on October 15, 2016 and paid on 27 December 2016. 4. The directors of the company approved a transfer of $30,000 to Retained Earnings from the Revaluation Reserve on May 26, 2017. 5. A special cash dividend of 1 cent per share was declared on 15 November 2016 and paid on 15 December, 2016 from Retained Earnings. 6. The directors declared a final dividend in the form of a share dividend of 1 for 50 at $1.25 per share on June 12, 2017 and the shares are to be issued on June 27, 2017. Total (a) Prepare the Statement of Changes in Equity for the year ended 30 June 2017. Clegg Ltd Statement of Changes in Equity For the Year ending 30 June 2017 For the Year ending Share Capital Revaluation Currency Retained 30 June 2017 Reserve Translation Earnings $ Reserve $ $ $ Balance 1 July 2016 Operating Profit Other Comprehensive Income Cash Dividends $ Share Dividends Revaluation Reserve Balance 30 June 2017 5. (PSA10.1) Marge Arena Ltd was registered on 31 January 2016. It invited the public to subscribe to the issue of 20 000 ordinary shares for $50 per share: $20 due on application, $20 due on allotment and the balance due on call. Jan. 10 Mar. 1 Mar. 2 Prospectus issued. Received applications for 20 000 shares. Allotted 20 000 ordinary shares. All allotment money received. Remaining capital called. All money due on call is received. Mar. 31 Nov. 1 Nov. 30 Required: (a) Journalise the transactions. (b) Post to the equity accounts (use T accounts). (c) What is the share capital of Marge Arena Ltd at 1 December