Shareholders' equity

Preferred stock, $5\%$ cumulative, $$50$ par value, $95,000$ shares authorized, $23,750$ shares issued and outstanding

$$1,187,500$

Common stock, $$1$ par, $9,900,000$ shares authorized, $990,000$ shares issued and outstanding

$950,000$

Additional paid$-$in capital

$4,050,000$

Retained earnings

$5,900,000$

Total shareholders' equity