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 $177,225 Additional paid-in capital on preferred stock 10,600 Common stock, $2 par 83,400 Preferred stock, $100 par 53,000 Retained earnings 173,000 During 2016, the company sold 4,600 shares of common stock for $9 per share and 290 shares of preferred stock for $131 per share. It also earned income of $86,000 and paid dividends of $11 per share on the preferred stock and $1.80 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.