The shareholders' equity of Marimar Company on January 1, 2013 is as follows: Share capital, P100 par 6,000,000 Share premium 500,000 Retained earnings 1,800,000 Transactions during the year and other information relating to shareholders' equity accounts were as follows: 1. On January 26, Marimar Company reacquired for cash 5,000 shares for P110 per share. 2. On April 4, Marimar Company sold for cash 3,000 shares of its treasury for P140 per share. 3. On June 1, Marimar Company declared a cash dividend of P20 per share, payable July 5, to shareholders of record on July 1. 4. On November 1, Marimar Company declared a 2 for 1 split and changed the par value from P100 to P50. On November 20, shares were issued for the share split. 5. On December 5, 4,000 shares were issued in exchange for a second hand equipment. The equipment originally cost P400,000, was carried by the previous owner at a carrying amount of P200,000 and was fairly valued at P260,000. 6. Net income for the year was P1,730,000. 7. Appropriated retained earnings equal to the cost of treasury shares. Required: a. Prepare journal entries to record the transactions. b. Prepare a statement of changes in equity for the year ended December 31, 2013. Present the shareholders' equity on December 31, 2013