1. repare the Statement of Changes in Retained Earnings for the year ended 31st December 2016 and Shareholders' Equity Section of the Balance Sheet as on 31st December 2016 Gray Matrix Company "articles of incorporation" state the following: a. AED 2, Preferred Stock, par value AED 10 (authorized to issue 30,000 shares). b. Common Stock, par value AED 10 (authorized to issue 200,000 shares). c. During 2016, the company issued 20,000 shares of preferred stock at AED 13 per share. d. They also issued 150,000 shares of common stock at par value. e. In November 2016, the Board of Directors declared and paid dividends of AED 3 per share to common shareholders. f. The net income for the year 2016 was AED 650,000 and the retained earnings as on 1st January 2016, was AED 120,000. Statement of Retained Earnings: AED Shareholders' Equity Section AED