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Air Sport Sporting Goods is authorized to issue 5,000 preferred shares and 10,000 common shares. During a two-month period, Air Sport completed these share-issuance transactions: Required Prepare the shareholders' equity section of Air Sport Sporting Goods balance sheet for the transactions given in this exercise. Retained Earnings has a balance of $40,000. Journal entries are not required. Prepare the shareholders' equity section of Air Sport Sporting Goods balance sheet