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$169,575Additional paid-in capital on preferred stock13,800Common stock, $2 par79,800Preferred stock, $100 par69,000Retained earnings235,000

During 2016, the company sold 4,600 shares of common stock for $14 per share and 500 shares of preferred stock for $140 per share. It also earned income of $89,000 and paid dividends of $7 per share on the preferred stock and $2.50 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.

Preferred Stock $100 parCommon Stock $2 parAdditional Paid-in Capital on Preferred StockAdditional Paid-in Capital on Common StockRetained Earnings TotalBalances, 1/1/16Balances, 12/31/16Cash dividend paid on commonCash dividend paid on preferredCommon stock issuedPreferred stock issuedNet income$- Select -$- Select -$- Select -$- Select -$- Select -$- Select -Balances, 1/1/16Common stock issuedCash dividend paid on commonBalances, 12/31/16Retained earnings - Select - - Select - - Select -Balances, 1/1/16Balances, 12/31/16Cash dividend paid on commonCash dividend paid on preferredPreferred stock issued- Select - - Select - - Select -Balances, 1/1/16Balances, 12/31/16Cash dividend paid on commonCash dividend paid on preferredNet income - Select -- Select -Balances, 1/1/16Common stock issuedPreferred stock issuedCash dividend paid on preferredBalances, 12/31/16 - Select -- Select -Balances, 1/1/16Balances, 12/31/16Cash dividend paid on commonCommon stock issuedPreferred stock issued - Select -- Select -Balances, 1/1/16Balances, 12/31/16Cash dividend paid on preferredCommon stock issuedPreferred stock issued$- Select -$- Select -$- Select -$- Select -$- Select -$- Select