Destiny Inc was founded on January 1, and its corporate charter identifies the following capital stock. Common stock, $6 par, 100,000 shares authorized, one vote per share

Preferred stock, 7%,$10 par value, 5,000 shares authorized, nonvoting The following transactions occurred during Inside's first year of operations:

a.Issued 20,000 shares of common stock at $18 per share in cash b.Issued 3,000 shares of preferred stock at $22 per share in cash c.reported net income of$38,000 d. Declared and paid the preferred dividend in December Prepare Destiny's Statement of Shareholders' Equity at December 31