Equity of Toronto Ltd at 14 February 2016 consisted of:

Share capital: 800000 shares (fully paid for $1) 600000 shares (paid to 50c, issued at $1)	$800000   300000		$1100000
General reserve Plant replacement reserve Retained earnings			100000 50000 125000

The following events occurred during 2016:

Feb. 15 April  2 May 30 June 30 Aug. 15 Aug. 16

Interim dividend of 5c per fully paid equivalent share declared and paid out of retained earnings. Final call made on the 600000 partly paid shares. All call money received. Profit before tax for the year was $700000 out of which the following appropriations were made: (a) Income tax expense                                    $250000 (b) Transfers to reserves: General reserve     240000                                Plant replacement reserve  30000 Shareholders approved the final dividend of 5c per share out of retained earnings recommended by the directors, and a one-for-five bonus issue  of shares at a price of $1 per share to be satisfied out of the general reserve. Payment of final dividend. Allotment of bonus shares.

Required

A.    Prepare journal entries in general journal format to give effect to the above transactions.

B.    Show the Retained Earnings account up to 17 August 2016.

C.    Show the statement of changes in equity from 14 February 2016 to 17 August 2016.