Pharoah Corporation's charter authorized 2 million $11 par value common shares, and 300,000 8% cumulative and non-participating preferred shares, with a par value of $100 per share. The corporation made the following share transactions through December 31, 2023: 340,000 common shares were issued for $4.08 million and 11,000 preferred shares were issued for machinery valued at $1,559,000. Subscriptions for 11,300 common shares have been taken, and 40% of the subscription price of $17 per share has been collected. The shares will be issued when the subscription price is collected in full. In addition, 10,000 common shares have been repurchased for $16 and retired. The Retained Earnings balance is $220,000 before considering the transactions above. (a) Prepare the shareholders' equity section of the SFP in good form. PHAROAH CORPORATION Partial Statement of Financial Position LA $ LA

Pharoah Corporation's charter authorized 2 million $11 par value common shares, and 300,0008% cumulative and non-participating preferred shares, with a par value of $100 per share. The corporation made the following share transactions through December 31 , 2023: 340,000 common shares were issued for $4.08 million and 11,000 preferred shares were issued for machinery valued at $1,559,000. Subscriptions for 11,300 common shares have been taken, and 40% of the subscription price of $17 per share has been collected. The shares will be issued when the subscription price is collected in fult. In addition, 10,000 common shares have been repurchased for $16 and retired. The Retained Earnings balance is $220,000 before considering the transactions above. (a) Prepare the shareholders' equity section of the SFP in good form. PartialStatement of Financial Position For the Year Ended December 31, 2023 Total Shareholders' Equity Share Capital Preferred Shares Common Shares \( \$ \longdiv { 3 6 3 0 0 0 0 } \) $ 1100 Common Shares Subscribed 124300 Total Common Shares issued and to be issued Total Share Capital