9. On January 1, 2016, Fascom had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 250,000 shares issued 250,000 Paid-in capitalexcess of par, common 500,000 Paid-in capital excess of par, preferred 100,000 Preferred stock, $100 par, 10,000 shares outstanding 1,000,000 Retained earnings 2,000,000 Treasury stock, at cost, 5,000 shares 25,000 During 2016, Fascom Inc. had several transactions relating to common stock. January 15: Declared a property dividend of 100,000 shares of Slowdown Company (book value $10 per share, market value $9 per share). February 17: Distributed the property dividend. April 10: A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. The market value of the stock was $4 on this date. July 18 Declared and distributed a 3% stock dividend on outstanding common stock. The market value is $5 per share. December 1: Declared a 50 cents per share cash dividend on the outstanding common shares. December 20: Paid the cash dividend. Required: Prepare the Statement of Shareholders' Equity section of Fascom's balance sheet as of December 31, 2016. Assume net income is $500,000 for 2016. Show beginning balances, changes and ending balances (details). Not required but JE and 'T' accounts could help. (20 Points) Fascom's Statement of Shareholders' Equity (not Balance Sheet Equity Section) Details Preferred Common PIC PIC Retained Treasury Total Stock Stock Excess Excess Earnings Stock Shareholders' Common Preferred Equity