my work Walking Bear Resources Inc. Equity Section of the Balance Sheet March 31, 2020 uted capital: red shares, $17 cumulative, 2,400 shares :horized, issued, and outstanding shares, unlimited shares authorized, 39,000 ires issued and outstanding contributed capital d earnings quity $ 552,000 936,000 $1,488,000 461,000 $1,949,000 the equity section above. Assume that the preferred are e into common at a rate of eight common shares for e of preferred. If 1,000 shares of the preferred are into common on April 1, 2020, prepare the journal entry