Prepare powders statement of shareholders equity ( include retained earnings) for 2016.

Statement of Shareholders Equity You may use the attached spreadsheet to help you complete this activity, but you are not required to do so. You will find the spreadsheet by clicking on the green Excel icon in the upper left hand corner of the activity On January 1, 2016, Powder Company provided the following shareholders' equity section of is balance sheet: Contributed Capital: Preferred stock, $100 par 92,800 37,400 21,500 58,700 $210,400 185,700 $396,100 Common stock, $5 par Additional paid-in capital on preferred stock Addtional paid-in capital on common stock Total contributed capital Retained earnings Total Shareholders' Equity During 2016, the following transactions and events occurred and were properly recorded: 1. Powder issued 1,800 shares of common stock at $13 per share. 2. Powder issued 340 shares of preferred stock at $130 per share 3. Powder earned net income of $ 38,950 4. Powder paid a $7 per share dividend on the preferred stock and a $1 per share dividend on the common stock outstanding at the end of 2016. Required Prepare Powder's statement of shareholders' equity (include retained earnings) for 2016 POWDER COMPANY Statement of Changes in Shareholders' Equity Additional eferred Common Paidin Aodtional Stock Stock Capital onPaid-in Capital on Retained eBook B: Show Me How Calculator Total contributed capital Retained earnings Total Shareholders' Equity $210,400 185,700 $396,100 During 2016, the following transactions and events occurred and were properly recorded: 1. Powder issued 1,800 shares of common stock at $13 per share. 2. Powder issued 340 shares of preferred stock at $130 per share. 3. Powder earned net income of $ 38,950 4. Powder paid a $7 per share dividend on the preferred stock and a $1 per share dividend on the common stock outstanding at the end of 2016. Required: Prepare Powder's statement of shareholders' equity (include retained earnings) for 2016 POWDER COMPANY Statement of Changes in Shareholders Equity For Year Ended December 31, 2016 Additional Additional Paid-in Preferred Common Capitaaoital on Retained Stock $100 par $5 par Stock Common Earnings Total