Changes in Shareholders' Equity

On January 1, 2016, the Osgood Film Studios reported the following alphabetical list of shareholders' equity items:

Additional paid-in capital on common stock	$175,100
Additional paid-in capital on preferred stock	20,000
Common stock, $2 par	82,400
Preferred stock, $100 par	100,000
Retained earnings	245,000

During 2016, the company sold 4,700 shares of common stock for $8 per share and 500 shares of preferred stock for $124 per share. It also earned income of $96,000 and paid dividends of $10 per share on the preferred stock and $1.00 per share on the common stock outstanding at the end of 2016.

Required:

Prepare Osgood's statement of shareholders' equity (include retained earnings) for 2016.

OSGOOD FILM STUDIOS
Statement of Shareholders' Equity
For Year Ended December 31, 2016
	Preferred Stock $100 par	Common Stock $2 par	Additional Paid-in Capital on Preferred Stock	Additional Paid-in Capital on Common Stock	Retained Earnings	Total
Balances, 1/1/16	$	$	$	$	$	$
Common stock issued
Preferred stock issued
Net income
Cash dividend paid on preferred
Cash dividend paid on common
Balances, 12/31/16