The Balance Sheet dated December 31, 2020 of XYZ Co. includes the following information: Shareholder's Equity: Share capital: Preferred, $8, cumulative, callable at $102 each, 20,000 shares authorized, 8,000 shares issued and outstanding $ 800,000 Common, 100,000 shares authorized, 50,000 shares issued and outstanding 100,000 900,000 Retained earnings 485.000 Total shareholder's equity $ 1,385,000 11: 1 Other information: - The company was incorporated on January 1, 2017, and 40,000 common shares were issued on that date. - On January 1, 2017 the company issued 2,000 preferred shares.. On January 1, 2018 the company issued 1,000 more preferred shares. On January 1, 2019, the company issued 10,000 more common shares. On January 1, 2020, the company issued 5,000 more preferred shares. The Balance Sheet dated December 31, 2020 of XYZ Co. includes the following information: Shareholder's Equity: Share capital: Preferred, $8, cumulative, callable at $102 each, 20,000 shares authorized, 8,000 shares issued and outstanding $ 800,000 Common, 100,000 shares authorized, 50,000 shares issued and outstanding 100,000 900,000 Retained earnings 485.000 Total shareholder's equity $ 1,385,000 11: 1 Other information: - The company was incorporated on January 1, 2017, and 40,000 common shares were issued on that date. - On January 1, 2017 the company issued 2,000 preferred shares.. On January 1, 2018 the company issued 1,000 more preferred shares. On January 1, 2019, the company issued 10,000 more common shares. On January 1, 2020, the company issued 5,000 more preferred shares