Statement of Shareholders' Equity On January 1, 2019, Powder Company provided the following shareholders' equity section of its balance sheet: Contributed Capital: Preferred stock, $100 par Common stock, $5 par $ 92,800 37,400 Additional paid-in capital on preferred stock 21,500 Additional paid-in capital on common stock 58,700 Total contributed capital $210,400 Retained earnings 186,000 Total Shareholders' Equity $396,400 During 2019, the following transactions and events occurred and were properly recorded: 1. Powder issued 1,600 shares of common stock at $12 per share. 2. Powder issued 330 shares of preferred stock at $120 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 Preferred Common Stock $100 par Stock $5 par Additional Paid-in Capital on Preferred Stock Additional Paid-in Retained Capital on Earnings Total Common Stock 0000