Gulf Corp. showed the following equity information as at December 31, 2023. a. The preferred shares had sold for an average price of $23. b. The common shares had sold for an average price of $10. c. Retained Earnings at December 31,2022 , was $480,000. During 2023 , net income earned was $400,000. The board of directors declared a total cash dividend of $115,000. Use this information to complete the equity section of the balance sheet