Smiley Site Inc. ended 2016 with 8 million common shares issued and outstanding. The average issue price was $1.50. Beginning retained earnings totalled $43 million. In March 2017, Smiley Site issued 9 million common shares at a price of $9 per share. In May, the company distributed a 9% stock dividend at a time when Smiley Site's common shares had a fair value of $10 per share. Then in October, Smiley Site's stock price dropped to $4 per share and the company executed a 1-for-2 stock split. . For the year, Smiley Site earned net income of $21 million and declared cash dividends of $13 million. Complete the following tabulation to show what Smiley Site should report for shareholders' equity at December 31, 2017. Journal entries are not required. Complete the following tabulation to show what Smiley Site should report for shareholders' equity at December 31, 2017. Journal entries are not required. (Enter amounts and round calculations in millions to two decimal places. Leave amounts blank where no transaction occurred. Enter a total for each line of the table; if the total is zero, enter "0." Use parentheses or a minus sign when entering numbers to be subtracted or showing debit balances.) Common Retained Shares + Earnings = $ 12.00 + $ 43.00 = $ Total Equity 55.00 (Amounts in millions) Balance, Dec 31, 2016 Issuance of shares Stock dividend Net income Cash dividends Balance, Dec 31, 2017