1. On January 1, 2016, the Osgood Film Studios reported the following alphabetical list of shareholders' equity items:

   Additional paid-in capital on common stock	$153,000
   Additional paid-in capital on preferred stock	16,200
   Common stock, $2 par	72,000
   Preferred stock, $100 par	81,000
   Retained earnings	225,000

   During 2016, the company sold 4,500 shares of common stock for $15 per share and 280 shares of preferred stock for $126 per share. It also earned income of $82,000 and paid dividends of $9 per share on the preferred stock and $2.40 per share on the common stock outstanding at the end of 2016.

   Required:

   Prepare Osgood's statement of shareholders' equity (include retained earnings) for 2016.

   OSGOOD FILM STUDIOS
   Statement of Shareholders' Equity
   For Year Ended December 31, 2016
   	Preferred Stock $100 par	Common Stock $2 par	Additional Paid-in Capital on Preferred Stock	Additional Paid-in Capital on Common Stock	Retained Earnings	Total
   	$	$	$	$	$	$
   	$	$	$	$	$	$