Statement of Shareholders' Equity On January 1, 2019, Powder Company provided the following shareholders' equity section of its balance sheet: Contributed Capital:

ptatement of Snarenolders' Equity on January 1, 2019, Powder Company provided the following shareholders' equity section of its balance sheet: Contributed Capital: Preferred stock, $100 par $ 92,700 37,400 21,500 Common stock, $5 par Additional paid-in capital on preferred stock Additional paid-in capital on common stock Total contributed capital Retained earnings 58,700 $210,300 185,000 Total Shareholders' Equity $395,300 During 2019, the following transactions and events occurred and were properly recorded: powder issued 1,800 shares of common stock at $15 per share. Powder issued 330 shares of preferred stock at $140 per share. 3. Powder earned net income of $38,950. 4. Powder paid a $6 per share dividend on the preferred stock and a $1 per share dividend on the common stock outstanding at the end of 2019. Required: Prepare Powder's statement of shareholders' equity (include retained earnings) for 2019. POWDER COMPANY Statement of Shareholders' Equity For Year Ended December 31, 2019 Check My Work