Star Inc. showed the following equity information as at December 31, 2014 a. The preferred shares had sold for an average price of $17 b. The common shares had sold for an average price of $7 c. Retained Earnings at December 31, 2013, was $170,000. During 2014, net income earned was $400,000. The board of directors declared a total cash dividend of $130,000 Use this information to complete the equity section of the balance shoot. Star Inc Equity Section of the Balance Sheet December 31, 2014 Contributed capital: Preferred shares $2.50 non-cumulative: 700,000 shares authorized share issued and outstanding Common shares, unlimited shares authorized 125,000 shares issued and outstanding Total contributed capital Rotained earnings Total equity 4.970,000