On January 1, 2016 Hammer Company listed the following shareholders equity section of its balance sheet:

Contributed Capital:

Common Stock, $1 par $150,000

Additional paid-in capital on common stock $300,000

Total Contributed Capital $450,000

Retained Earnings $758,000

Accumulated other comprehensive income $14,500

Total Shareholders Equity $1,222,500

During 2016, the following transactions and events occurred and were recorded:

Hammer issued 50,000 shares of common stock at $3 per share

Hammer earned net income of $175,900.

Hammer paid a cash dividend of $.10 per share of common stock

Hammer had an unrealized loss associated with some available-for-sale securities in the amount of $1,450.

Required:

Prepare Hammers statement of shareholders equity for 2016