Prepare the shareholders' equity section of Army Navy Sporting Goods balance sheet

Army Navy Sporting Goods is authorized to issue 5.000 preferred shares and 10000 common shares. During a two-month period, Army Navy completed these share-issuance transactions: May 23 Issued 2,500 common shares for cash of S17.5 per share. 2 Issued 500 S6.OO preferred shares for S24,OOO cash. 12 Received inventory valued at $20,000 and equipment with fair value of $45,000 for common shares. Required Prepare the shareholders' equity section of Army Navy Sporting Gcnds balance sheet for the transactions given in this exercise. Retained Eamings has a balance of $50, 000. Journal entries are not required. prepare the shareholders' equity secbon ot Army Navy Sporting Goods balance sheet Shareholders Equity Shareholders' equity Total shareholders' equity