The shareholders’ equity portion of the balance sheet of Sessel’s Department Stores, Inc., a large regional specialty retailer, is as follows:

Disclosures elsewhere in Sessel’s annual report revealed the following changes in shareholders’ equity accounts for 2025, 2024, 2023 (values and shares in whole dollars): 2025:
1. The only changes in retained earnings during 2025 were preferred dividends on preferred stock of $3,388,000 and net income.
2. The preferred stock is convertible. During the year, 6,592 shares were issued. All shares were converted into 320,000 shares of common stock. No gain or loss was recorded on the conversion.
3. Common shares were issued in a public offering and upon the exercise of stock options. On the statement of shareholders’ equity, Sessel’s reports these two items on a single line entitled: “Issuance of shares.” 2024:
1. Net income: $12,126,000.
2. Issuance of common stock: 5,580,000 shares at $112,706,000. 2023:
1. Net income: $13,494,000.
2. Issuance of common stock: 120,000 shares at $826,000.

Required:
From these disclosures, prepare comparative statements of shareholders’ equity for 2025, 2024, and 2023.

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SESSEL'S DEPARTMENT STORES, INC. Comparative Balance Sheets Shareholders' Equity Section (values and shares in thousands, except per share amounts) Shareholders' Equity Preferred stock-$1 par value; 20,000 total shares authorized, Series A-600 shares authorized, issued, and outstanding, $50 per share liquidation preference Series B-33 shares authorized, no shares outstanding Common stock-$0.10 par; 200,000 shares authorized, 19,940 and 18,580 shares issued and outstanding at Dec. 31, 2025, and Dec. 31, 2024, respectively Additional paid-in capital Retained income Total shareholders' equity Dec. 31, 2025 $ 57,700 1,994 227,992 73,666 $361,352 Dec. 31, 2024 $ 1,858 201,430 44,798 $248,086