Bunkles Inc. was organized in 201. The incorporation documents permitted the company to issue unlimited numbers of common and preferred shares. In 20X1,300,000 common shares were sold to the public for $20 a share, and 20,000 preferred shares were sold at $100 each. The preferred shares were entitled to a $10 cumulative dividend each year. During 201,202 and 203, Bunkles earned a total of $1,400,000. The company did not pay any dividends in 201 or 202, but paid a dividend of $0.50 per share to the common shareholders in 203 Required: Prepare the shareholders' equity section of the balance sheet at the end of 203. Bunkles Inc. was organized in 201. The incorporation documents permitted the company to issue unlimited numbers of common and preferred shares. In 20X1,300,000 common shares were sold to the public for $20 a share, and 20,000 preferred shares were sold at $100 each. The preferred shares were entitled to a $10 cumulative dividend each year. During 201,202 and 203, Bunkles earned a total of $1,400,000. The company did not pay any dividends in 201 or 202, but paid a dividend of $0.50 per share to the common shareholders in 203 Required: Prepare the shareholders' equity section of the balance sheet at the end of 203