Hex Corporation showed the following amounts in the equity section of its balance sheet at January 1, 2022: Preferred Shares, $2 cumulative (in arrears for 2020), 10,000 shares issued Common shares 40,000 shares issued Retained Earnings 500,000 800,000 500,000 On Jan. 20, 2022, 10,000 common shares were issued for $150,000. On Nov. 1, 2022, Cash dividends of $90,000 were declared. Dividends will be paid on January 18, 2023. On Dec. 31, 2022 Hex reported revenues of $150,000 and operating expenses of $80,000 for the year. Additionally, income tax expense was $18,000. Required: Prepare the statement of changes in shareholders equity for the year ended Dec 31, 2022

\begin{tabular}{l} Hex Corporation showed the following amounts in the equity section of its balance sheet at January 1, \\ 2022: \\ Required: \\ Dividends will be paid on January 18,2023 . On Dec. 31,2022 Hex reported revenues of $150,000 and operating expenses of \\ $80,000 for the year. Additionally, income tax expense was $18,000. \\ Requare the statement of changes in shareholders equity for the year ended Dec 31,2022 \\ \hline \end{tabular} \begin{tabular}{l} Hex Corporation showed the following amounts in the equity section of its balance sheet at January 1, \\ 2022: \\ Required: \\ Dividends will be paid on January 18,2023 . On Dec. 31,2022 Hex reported revenues of $150,000 and operating expenses of \\ $80,000 for the year. Additionally, income tax expense was $18,000. \\ Requare the statement of changes in shareholders equity for the year ended Dec 31,2022 \\ \hline \end{tabular}