Jan

$23$ Issued $2,500$ common shares for cash of $$14$ per share.

Feb

$2$ Issued $200$$$6\mathrm{.}00$ preferred shares for $$22,000$ cash.

$12$ Received inventory valued at $$19,000$ and equipment with fair value of

$$47,000$ for $3,200$ common shares.

Required

Prepare the shareholders' equity section of Military Sporting Goods balance sheet.

Shareholders' Equity

Shareholders' equity:

Total shareholders' equity