RICHETTI Corporation was organized on January 1, 2018. It is authorized to issue 18,000 shares of $3-noncumulative preferred shares and an unlimited number of common shares. The following share transactions were completed during the first year. Jan. 1 Issued 73,000 common shares for cash at $3 per share. Mar. 1 Issued 12,900 preferred shares for cash at $52 per share. May 1 Issued 127,000 common shares for cash at $5 per share. Sept. 1 Issued 4,700 common shares for cash at $6 per share. Nov. 1 Issued 2,700 preferred shares for cash at $54 per share. Dec. 1 Declared the annual preferred dividend to the preferred shareholders, to shareholders of record on December 15, payable on January 15, 2019. Dec. 31 Reported net income of $175,000 for the year. Prepare the shareholders' equity section of the statement of financial position at December 31, 2018. RICHETTI CORPORATION Statement of Financial Position (Partial)