The following shareholders equity accounts are reported by Sunland Inc. on January 1: Common shares (unlimited authorized, 162,000 issued) $2.592,000 Preferred shares ($4 cumulative, convertible 100,000 authorized, 5,800 issued) 435.000 Contributed surplus-reacquisition of common shares 31,600 Retained earnings 1.268,000 The following selected transactions occurred during the year Feb. 11 Issued 54,000 common shares at $20 per share. Mar 2 Reacquired 20,300 common shares at $22 per share. June 14 Split the common shares 2 for 1 when the common shares were trading at $30 per share. July 25 Reacquired 460 preferred shares at 570 per share. Sept 16 Reacquired 54,000 common shares for $17 per share. Oct 27 Declared a 5% common stock dividend distributable on December 13 to shareholders of record on November 24. The fair value of the common shares on October 27 was $19 per share, Distributed the stock dividend declared on October 27. The fair value of the common shares on December 13 Dec 13 was $21 per share (b) Show how each class of shares will be presented in the shareholders equity section of the balance sheet at December 31 Sunland Inc. Partial Balance Sheet Shareholders equity Share Capital Preferred Shares Common Shares