Shamrock Limited is a private company that follows ASPE. It is authorized to issue an unlimited number of both common and $5 cumulative preferred shares. On December 31, 2021, there were 40.000 common and 1.900 preferred shares issued. The common shares had been issued at an average per share amount of $ 10; the preferred shares at $ 105. The balance in the Retained Earnings account on January 1, 2021. was $ 285.500. During 2021, the company had profit of $ 127.000 and declared a total of $ 76,500 of dividends, of which $ 60,000 was paid during the year. (a) Prepare the shareholders' equity section of the balance sheet on December 31, 2021. SHAMROCK LIMITED Balance Sheet (Partial) $ 20 Save for Later Attempts: 0 of 2 used Submit Answer (b) Calculate return on equity for 2021. Assume there were no changes in the Common Shares and Preferred Shares accounts during the year. (Round answer to 2 decimal places, e.g. 52.75%.) Return on equity Save for Later Attempts: 0 of 2 used Submit