LO 1 E15.3 Kidwell, Inc., is authorized to issue 5,000,000 shares of no-par common stock and 800,000 shares of $30 par value preferred stock. During its first year of operation, the company issued 1,200,000 shares of common stock for a total amount of $20.400,000 and 250,000 shares of preferred stock for a total of $8,750,000. The firm has net income of $535,000 for the year, but it declared no dividends. Prepare the shareholders' equity section of the balance sheet as it would appear after the first year's operation