Oppong Corporation showed the following equity information as at December 31, 2014. a. The preferred shares had sold for an average price of $22. b. The common shares had sold for an average price of $9. c. Retained Earnings at December 31, 2013, was $330,000. During 2014, net income earned was $300,000. The board of directors declared a total cash dividend of $125,000 Use this information to complete the equity section of the balance sheet. Oppong Corporation Equity Section of the Balance Sheet December 31, 2014 Contributed capital: Preferred shares. $2.50 non-cumulative; 350,000 shares authorized; 265,000 shares issued and outstanding Common shares; unlimited shares authorized; shares issued and outstanding Total contributed capital Retained earnings Total equity 8,810,000