ITLeview Guestions 4. Byrne Corporation had the following accounts at January 1, 2016: common shares, no par value, unlimited number of shares authorized, 4,000 shares issued, $150,000 preferred shares, $8 cumulative, no par value, unlimited number of shares authorized 1,000 shares issued, $50,000; retained earnings, S43,000 During the year, the company paid the preferred dividend and paid a S0.50 dividend to the common shareholders. The company had net income of S79,000 Instructions Prepare the Statement of Retained Earnings section of the balance sheet at December 31, 2016