"Please answer in good accounting form and all amounts should be captioned, no abbreviations."

Problem 5-5 (PHILCPA Adapted) Carr Company reported the following shareholders' equity on January 1, 2021. Preference share capital 1,800,000 Share premium - preference 90,000 Ordinary share capital 5,150.000 Share premium - ordinary 3,500,000 Retained earnings 4,000.000 Treasury shares - ordinary 270.000 On January 1, 2021. Carr had 100,000 authorized shares of P100 par, 10% cumulative preference share capital and 3,000,000 authorized shares of no par ordinary share capital with a stated value of P5 per share. On January 10, 2021, Carr formally retired all the 30,000 ordinary shares of treasury. The treasury shares had been acquired in the previous year and were originally issued at P10 per share. Carr owned 10,000 ordinary shares of Bush Company purchased several years ago for P600,000. On February 15, Carr declared and paid a dividend in kind of one share of Bush for every hundred ordinary shares of Carr held by a shareholder of record on February 28, 2021. The market price of Bush share was P75 on February 15, 2021. On December 12, 2021, Carr declared the yearly cash dividend on preference share, payable on January 14, 2022, to shareholders of record on December 31, 2021. On January 15, 2022, before the accounting records were closed for 2021, Carr became aware that re: t income for the year ended December 31, 2020 was overstated by P500,000. The after-tax effect on 2020 net income was P350,000. The appropriate correcting entry was recorded. After correcting the rent income, net income for 2021 was P2,GOO,000. Required: Prepare a statement of changes in equity for 2021