3. On January 1, 2001, Brown Corporation had $2,000,000 of no par value common shares outstanding that were issued at $10 and retained earnings of $1,000,000. The corporation issued 100,000 common shares at $13 per share on July 1. On December 15, the board of directors declared a 10% stock dividend to shareholders of record on December 31, 2001, payable on January 15, 2002. The market value of Brown Corporation shares was $15 per share on December 15 and $14 per share on December 31. Net income for 2001 was $500,000. Instructions Prepare the shareholders' equity section of the balance sheet for Brown Corporation at December 31, 2001 by completing the partial solution below. (9 marks) Shareholders' equity Share capital (hint 2 items here) Common Shares, $ Total share capital Retained earnings Total shareholders' equity