Bramble Corporation's charter authorized 2 million shares of $11 par value common shares, and 400,000 shares of 5% cumulative and non-participating preferred shares, with a par value of $100 per share. The corporation made the following share transactions through December 31, 2017: 330,000 common shares were issued for $4.29 million and 9,000 preferred shares were issued for machinery valued at $1,350,000. Subscriptions for 11,900 common shares have been taken, and 30% of the subscription price of $15 per share has been collected. The shares will be issued upon collection of the subscription price in full. In addition, 12,000 common shares have been repurchased for $14 and retired. The Retained Earnings balance is $240,000 before considering the transactions above.

(a)

Prepare the shareholders' equity section of the statement of financial position in good form.