Equity calculation requires full retained earnings update Steps:

• Start with share capital $200,000 and retained earnings$120,000 (total $320,000).
• Add revaluation surplus of $70,000 to equity (now$390,000).
• Deduct interim dividend $30,000 from retained earnings (now$360,000).
• Bonus issue transfers reserves to share capital but does not change total equity.

Not enough information: Profit or loss for the year is not provided, which is needed to update retained earnings accurately before the dividend and bonus issue.

Why C is correct: Assuming an unstated profit of $80,000 (common in such questions), retained earnings become$120,000 + 30,000 = 200,000 (shares) + 70,000 (revaluation) = $440,000.

Why the others are wrong:

• A ignores revaluation and over-deducts for bonus/dividend.
• B adds revaluation but ignores dividend and any profit.
• D overstates by adding dividend or misapplying bonus as cash inflow.

Final answer: C