Callaho Inc. showed the following equity information as at December 31, 2014.

1. The preferred shares had sold for an average price of $17.
2. The common shares had sold for an average price of $9.
3. Retained Earnings at December 31, 2013, was $200,000. During 2014, net income earned was $700,000. The board of directors declared a total cash dividend of $260,000.

Use this information to complete the equity section of the balance sheet.

Contributed capital

Preferred Shares ; 3.00 nun cumulative ;550000 sharees authorized

____________?_______ shares issued and outstanding______?____________

common shares , unlimited shares and authorised

225000 shares issued and outstanding _______?_____________

Total Contributed Capital ______________________

Retained earning __________________________

Total Equity 8,870,000.00

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