Question 2 ABC Corporation provided the following information on Dec 31, 2018 $165,700 Retained Eaming at Dec 31 2017 Common shares unlimited authorized; 150,000 common shares issued and outstanding $750,000 Preferred Shares $2,200,000 authorized , 20000 issued and outstanding $260,000 Sales less COGS $83,300 $13,300 Operating expenses Common shares Dividend $0.25 Preferred share dividend is also paid during the year Required 1. Calculate the retained Earning on December 31, 2018 using a T-Account 2. Give an extract of the equity portion of the Balance sheet for Dec 31, 2018