The following selected accounts appeared in the general ledger of Trois Quatre Inc. on December 31, 2021 4% Preference Shares, P50 par value P350,000 10.000 shares authorized: 7.000 shares issued Share Premium - preference 28.000 Ordinary Shares. P20 par value 500,000 50.000 shares authorized: 25.000 shares issued Share Premium - Ordinary 90.000 Retained Earnings 537.000 Total Shareholders' Equity P1,505.00 0 During the year, the corporation completed several transactions affecting the shareholders' equity. They are summarized chronologically as follows: a) Purchased 2,000 ordinary shares to be held as treasury for P55,000. b) Sold 500 ordinary treasury shares for P16,000. c) Issued 5,000 ordinary shares at P30, receiving cash. d) Sold 1,000 preference shares at P52.50. e) Sold 600 ordinary treasury shares for P15,600. f) Declared cash dividends of P2 per share on preference shares and P1 per share on ordinary shares. g) Paid the cash dividends. h) The board of directors authorized the appropriation necessitated by the holding of the treasury shares. 1) The profit for the year was P165,000 Required: 1. Prepare the statement of changes in shareholders' equity for the year ending December 31, 2022 2. Prepare the shareholders' equity section of the balance sheet as of December 31, 2022