Skeet Corporation has the following selected account balances at June 30, 2014. Prepare the shareholders' equity section of the company's balance sheet.

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Common Shares, Inventorv $70,000 82,500 500,000 shares authorized, 100,000 shares issued$100,000 Preferred Shares, $1.25, Accumulated Amortization- 100,000 shares authorized, 10,000 shares issued Machinery and Equipment Retained Earnings Cost of Goods Sold 32,500 7,000 Organization Costs, net 42,500 87,500 2,500