Bramble Architects Ltd. is a private company reporting under ASPE. It is authorized to issue an unlimited number of common and $3 cumulative preferred shares. The Following is an alphabetical list of its adjusted account: at March 31, 201?, its scal year end. All accounts have normal balances. Accounts payable Accounts receivable Accumulated depreciationequipment Cash Cash dividendscommon Cash dividendspreferred Common shares Consulting revenue Depreciation expense Dividends payable Equipment $22,500 30,000 23,500 52,000 40,000 4,500 75,000 404,000 12,000 15,000 229,000 Income tax expense Insurance expense Interest expense Notes payable Preferred shares Prepaid expenm Rent expense Retained earnings Salaries expense Salaries payable Supplies expense There are 1,500 preferred and 75,000 common shares issued. $13,000 5.100 3,000 43,000 54,000 5,300 35,000 59,500 244.000 2,400 25,000 Prepare the statement of retained earnings. ( List items that increase retained earnings first.) BRAMBLE ARCHITECTS LTD. Statement of Retained Earnings Year Ended March 31, 2017 Retained Earnings, April 1 69,500 Add Net Profit / (Loss) 59,900 129,400 Less Cash Dividends - Preferred 4,500 Cash Dividends - Common 40,000 44,500 Retained Earnings, March 31 # 84,900Prepare the shareholders' equity section of the balance sheet. BRAMBLE ARCHITECTS LTD. Balance Sheet (Partial) T $ T