These items are taken from the financial statements of Pharoah Corporation for the year ended December 31, 2024: Additional information: 1. Pharoah started the year with $72,000 of common shares and issued $24,000 of common shares during the year. 2. Pharoah must pay $8,800 of the bank loan payable in 2025 . Prepare a statement of changes in equity for the year. (If an amount reduces the account balance then enter amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 
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