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Assignment on statement of changes in equity: (6 points) [a part of first exam Student name: On January 1, 2020, WE had the following equity balances. Share CapitalOrdinary 150,000( shares issued) Share PremiumOrdinary Retained Earnings treasury shares( 20,000) ordinary shares) During 2020, the following transactions and events occurred. 1. Issued 25,000 additional ordinary shares to attorneys in payment of a bill for 125000 2. Purchased 6,000 ordinary shares for the treasury at $5 per share. 3. Declared and paid a cash dividend ofS 0.5 per share to outstanding shares 4. Sold 10,000 treasury shares for cash at 5 6 per share. 5 declared AND issued 10% share dividends when the share price was 3 6 6. Earned net income of $200,000 Instructions Prepare a statement of changes in equity for the year? (6 points) Answer: 1. Statement of changes in equity: MI}!- Beg balances 1/1 Ending balances