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Preferred shares ($L50, cumulative*, no par value, 100,000 shares authorized, Common shares (no par value, 8,000 shares) Retained earnings Total shareholder's equity *two years

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Preferred shares ($L50, cumulative*, no par value, 100,000 shares authorized, Common shares (no par value, 8,000 shares) Retained earnings Total shareholder's equity *two years of dividends are in arrears 5,000 sh ares issued) $25,000 160,000 92,000 $277,000

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