Tables are uploaded. Thankks! Sheffield Corporation's charter authorized 2 million shares of $12 par value common shares,
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/6678f20216182_3056678f201eff66.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/6678f20297c67_3066678f20271e4c.jpg)
Tables are uploaded. Thankks!
Sheffield Corporation's charter authorized 2 million shares of $12 par value common shares, and 300,000 shares of 8% cumulative and non-participating preferred shares, with a par value of $100 per share. The corporation made the following share transactions through December 31, 2020: 310,000 common shares were issued for $4.34 million and 9,000 preferred shares were issued for machinery valued at $1,397,000. Subscriptions for 10,100 common shares have been taken, and 40% of the subscription price of $16 per share has been collected. The shares will be issued upon collection of the subscription price in full. In addition, 8,000 common shares have been repurchased for $15 and retired. The Retained Earnings balance is $190,000 before considering the transactions above.
Prepare the shareholders' equity section of the SFP in good form.
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/6678f20317bc4_3066678f202ea116.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/6678f2038c898_3076678f20362f18.jpg)