Presentation of Shareholders' Equity}

Yeager Corporation was organized in January 2018. During 2018, Yeager engaged in the following shareholders' equity activities:

a. Secured approval for a corporate charter that authorizes Yeager to sell 600,000 , no par common shares and \(30,000, \$ 50\) stated value preferred shares

b. Issued 80,000 of the common shares for \(\$ 13\) per share

c. Issued 2,500 of the preferred shares for \(\$ 57\) per share

d. Repurchased and cancelled 500 of the common shares at a cost of \(\$ 15\) per share

e. Earned net income of \(\$ 48,000\)

f. Paid dividends of \(\$ 5,000\)

\section*{Required:}

Prepare the shareholders' equity portion of Yeager's statement of financial position as of December 31, 2018.

\section*{Problem