On January 1, 2021 Astor Co. showed the following shareholders' equity accounts: Preferred shares, $3, 10,000 shares issued Common shares, 50,000 shares issued Retained earnings $250,000 $500,000 $150,000 In 2021 Astor Co. had the following transactions affecting shareholders' equity: Jan 2 Issued 8,000 common shares for $12.50 per share, and 5,000 preferred shares for $25 per share Dec 11 The company declared and paid the annual dividend on the preferred shares. Dec 15 The company declared and paid a $1.50 per share dividend on the common shares. Dec 31 The company made a profit of $300,000 in 2021. Required: Calculate the Retained Earnings balance on December 31, 2021 [3 marks] b. Calculate the total shareholder's equity on December 31, 2021. Show all relevant calculations. a