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CINRICH Corporation was organized on January 1, 2018. It is authorized to issue 22,000 shares of $3-noncumulative preferred shares and an unlimited number of common

CINRICH Corporation was organized on January 1, 2018. It is authorized to issue 22,000 shares of $3-noncumulative preferred shares and an unlimited number of common shares. The following share transactions were completed during the first year.

Jan. 1 Issued 84,000 common shares for cash at $3 per share.
Mar. 1 Issued 12,500 preferred shares for cash at $57 per share.
May 1 Issued 116,000 common shares for cash at $5 per share.
Sept. 1 Issued 4,800 common shares for cash at $6 per share.
Nov. 1 Issued 3,000 preferred shares for cash at $59 per share.
Dec. 1 Declared the annual preferred dividend to the preferred shareholders, to shareholders of record on December 15, payable on January 15, 2019.
Dec. 31 Reported net income of $168,000 for the year.

Please prepare the shareholders equity section of the statement of financial position at December 31, 2018.

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