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RiteSide Limited was issued a charter on January 15, 2017, that authorized the following shares: Common shares: no-par value; 100,000 shares; one vote per share

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RiteSide Limited was issued a charter on January 15, 2017, that authorized the following shares: Common shares: no-par value; 100,000 shares; one vote per share Preferred shares: 7 percent; no-par value $10 per share; 5,000 shares; non-voting During 2017, the following selected transactions were completed in the order given: a. Issued 20,000 common shares at $18 cash per share b Issued 3,000 preferred shares at $22 cash per share 01:22:23 At the end of 2017, the accounts showed net income of $38,000 Required: 1. Prepare the shareholders' equity section of the balance sheet at December 31, 2017 Shareholders' Equity-December 31, 2017 Contributed Capital Total contributed capital

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