14-12 LO 4.4 SHOW ME HOW Statement of Shareholders' Equity On January 1, 2016. Osgood Film Studios reported the following alphabeti- cal list of shareholders' equity items: Additional paid in capital on common stock Additional paid-in capital on preferred stock $170,000 12,000 Common stock, $2 par 80,000 Preferred stock, $100 par 60,000 Retained earnings 209.000 During 2016, the company sold 3,000 shares of common stock for $10 per share and 500 shares of preferred stock for S125 per share. It also earned income of 599,000 and paid dividends of $8 per share on the preferred stock and $1.50 per share on the common stock outstanding at the end of 2016. Required: Prepare Osgood's statement of shareholders' equity (include retained carnings) for 2016