Kingbird Limited is a private company that follows ASPE. It is authorized to issue an unlimited number of both common and $5 cumulative preferred shares. On December 31, 2024, there were 44,100 common and 1,260 preferred shares issued. The common shares had been issued at an average per share amount of $10; the preferred shares at $105. The balance in the Retained Earnings account on January 1, 2024, was $361,620. During 2024, the company had profit of $157,500 and declared a total of $94,500 of dividends, of which $70,875 was paid during the year.

(a)

Prepare the shareholders' equity section of the balance sheet on December 31, 2024.

KINGBIRD LIMITED Balance Sheet (Partial) choose the accounting period December 31, 2024Month Ended December 31, 2024Year Ended December 31, 2024
select an opening name for subsection one Current AssetsCurrent LiabilitiesIntangible AssetsLong-Term DebtLong-Term InvestmentsProperty, Plant, and EquipmentShare CapitalShareholders' EquityShort-Term InvestmentsTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Shareholders' EquityTotal Property, Plant, and EquipmentTotal Share CapitalTotal Shareholders' Equity
select an opening name for subsection one Current AssetsCurrent LiabilitiesIntangible AssetsLong-Term DebtLong-Term InvestmentsProperty, Plant, and EquipmentShare CapitalShareholders' EquityShort-Term InvestmentsTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Shareholders' EquityTotal Property, Plant, and EquipmentTotal Share CapitalTotal Shareholders' Equity
enter a balance sheet item		$enter a dollar amount
enter a balance sheet item		enter a dollar amount
select an opening name for subsection one Current AssetsCurrent LiabilitiesIntangible AssetsLong-Term DebtLong-Term InvestmentsProperty, Plant, and EquipmentShare CapitalShareholders' EquityShort-Term InvestmentsTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Shareholders' EquityTotal Property, Plant, and EquipmentTotal Share CapitalTotal Shareholders' Equity		enter a total amount for this subsection
enter a balance sheet item		enter a dollar amount
select an opening name for subsection one Current AssetsCurrent LiabilitiesIntangible AssetsLong-Term DebtLong-Term InvestmentsProperty, Plant, and EquipmentShare CapitalShareholders' EquityShort-Term InvestmentsTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Shareholders' EquityTotal Property, Plant, and EquipmentTotal Share CapitalTotal Shareholders' Equity		$enter a total amount for this section