2. George Company reported the following balances at December 31,2019 : share capital-ordinary 350,000; share premium-ordinary 200,000; beginning retained earnings 750,000. During 2020 , the following transactions affected equity. 1. Issued preference shares with a par value of 130,000 for 260,000. 2. Purchased treasury shares (ordinary) for 50,000. 3. Earned net income of 170,000. 4. Paid cash dividends of 95,000. Instructions (30%) Prepare the equity section of George Company's December 31, 2020, statement of financial position