Beamsley Corporation was organized in $2020$ to operate a financial consulting business. The charter authorized $12,000$ common shares, no par value. During the first year, the following selected transactions were completed:

a$.$ Issued $5,900$ shares of common shares for cash at $$31$ per share.

b$.$ Issued $1,900$ shares of common shares for cash at $$34$ per share.

Prepare the shareholders' equity section as it should be reported on the $2020$ year$-$end balance sheet. At year$-$end, the accounts reflected a profit of $$100.$