ACME Incorporated is a private company that follows ASPE. It is authorized to issue an unlimited number of both common and $6.00 cumulative preferred shares. On December 31, 2021 there were 11,000 common and 5,000 preferred shares issued with the following balances: Common Shares, $125,000; and Preferred Shares, $115,000. The statement of retained earnings showed retained earnings of $264,000 at December 31, 2021. Required: Prepare the shareholders' equity section of the balance sheet on December 31, 2021. Paragraph Calibri,sans-... B I 12pt UA 7 +v Fa 0 C ACME Incorporated Balance Sheet (Partial)