Marigold Corporation is authorized to issue an unlimited number of common shares and $1,501,000$ preferred shares During

$2024,$ its first year of operation, the company had profit of $$295,000.$ The following share transactions occurred:

Jan. $1$ Paid the province b$4,000$ for incorporation fees Luse Legal Fees Expense

Jan. $15$ Isued $590,000$ of $$1$ cumulative preferred shares at $$8$ pershare

Jan. $30$ Lawyers for the company accepted $700$ common shares as payment for legal senvices provided in helping the

company incorporate The legal senvices are etimated to have walue of $$6,400.$ The sha res were actively trading

at $$11\mathrm{.}50$ pershare

July $2$ Isued $118,000$ common shares for land. The land had an asking price of $$931,000,$ with no known fair walue The

shares arecurrently selling on the Toronto Stock Exchange at $$8\mathrm{.}50$ pershare

Date

Account Titles

Debit

Credit

Quetion Part $5$core

Prepare the shareholders' equity section of the balance sheet. Marigold has a December $31$ year end.

MARIGOLDCORPORATION

Partial Balance $5$heet