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 $ 92,900 37,500 21,500 Additional paid-in capital on preferred stock Additional paid-in capital on common stock 58,700 Total contributed capital $210,600 Retained earnings 185,000 Total Shareholders' Equity $395,600 During 2019, the following transactions and events occurred and were properly recorded: 1. Powder issued 1,800 shares of common stock at $15 per share. 2. Powder issued 330 shares of preferred stock at $140 per share. 3. Powder earned net income of $38,950. 4. Powder paid a $8 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 Additional Paid-in Additional Nunfound ann 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 Additional Paid-in Preferred Common Capital on Stock Stock Preferred $100 par $5 par Stock Additional Paid-in Capital on Common Stock Retained Earnings Total Balances, 1/1/19 92,700 X 37,400 x 21,500 58,700 18,500 395,300 Common stock issued 9,000 18,000 27,000 Preferred stock issued 33,000 12,000 X 45,000 X Net income 38,950 38,950 Cash dividend paid on preferred -7,542 x -7,547 x Cash dividend paid on common -9,280 X -9,280 X Balances, 12/31/19 125,700 X 46,400 X 33,500 X 76,700 207,128 X 489,428 x Feedback