Crane Ltd$.$ began operations on January $2,2024.$ During the year, the following transactions affected shareholders' equity:Prepare the shareholders' equity section of the statement of financial position as at December $31,2024.$

Crane Inc.

Statement of Financial Position $($Partial$)$

Year Ended December $31,2024$

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Crane's articles of incorporation authorize the issuance of $2\mathrm{.}5$ million common shares and the issuance of $254,000$ preferred

shares, the latter of which pay an annual dividend of $$2\mathrm{.}0$ per share.

A total of $304,000$ common shares were issued for $$4$ a share.

A total of $30,000$ preferred shares were issued for $$8$ per share.

The full annual dividend on the preferred shares was declared.

The dividend on the preferred shares was paid.

A dividend of $$0\mathrm{.}25$ per share was declared on the common shares but was not

The company had net income of $$178,000$ for the year. $($Assume sales of $$504,000$ and total operating expenses of

$$326,000.)$

The dividends on the common shares were paid.

The closing entry for the Dividends Declared account was prepared.

QUESTION: Prepare prepare the shareholders' equity section of the statement of financial position at december $31,2024$