The following section is taken from Ichiba Ltds statement of financial position at 30 June 2022.

Share capital (3 million shares) Reserves Retained earnings

$3,000,000 70,000 (10,000)

Additional information:

Ichiba Ltds Net Profit for the year ended 30 June 2022 was $250,000 after tax.

The directors of the company approved a transfer of $25,000 to reserves on 15 November 2021.

The directors declared a final dividend in the form of a share dividend of $100,000 (based on $1 per share) on the 15^th June 2022 and shares are to be issued on the 30^th June 2022.

Required:

Prepare the a similar equity section of Ichiba Ltd's statement of financial position at 30 June 2021. Journal entries are not required. (3 marks)