Gerry corporation is a mid-sized public company that had been in operation for many years. On December 31, 2019, it had an unlimited number of common shares authorized and 2.2 million shares issued with a dollar value of $26.4 Million. As well, there were 5 million preferred shares authorized, with 250,000 of them issued with a dollar value of $7,000,000 The balance in retained earnings was $23,236,435. The preferred shares pay an annual dividend of $3 per share. 3 Ourint 2020, the following transactions affected shareholders' equity: 5 January 20,000 new common shares were issued at $14 per share. January 6-7000 new preferred shares were issued at $30 per share. April 12-The board of directors declared $0.60 dividend for all common shareholders the total amount was $1,380,000 2. Complete the statement of changes in shareholder's equity. Gerry Corporation earned $6,250,435 in net income in 2020 Gerry Corporation Statement of Changes in Shareholder's Equity Number of common shares Year Ended December 31, 2020 Number of preferred Preferred Common Shares shares Shares Retained Earnings Total nuary 1, 2020 2,200,000 $ 26,400,000 250,000 $ 7,000,000 $23,236,435 $56,636,435 Add: Net Income Add: Shares Issued Less: Dividends Declared December 31, 2020