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on January 1, 2016. Fascom had the following account balances in its shareholders' equity accounts 240,000 Common stock, $1 par, 240,000 shares issued 480,000 Paid-in capital excess of par, common 200,000 Paid-in capital excess of par, preferred Preferred stock, $100 par, 20,000 shares outstanding 2,000,000 4,000,000 Retained earnings Treasury stock, at cost, 4,000 shares 20.000 During 2016, Fascom Inc. had several transactions relating to common stock. January 15 Declared a property dividend of 100,000 shares of Slowdown Company (book value $12.0 per share, market value $10.00 per share). February 17: Distributed the property dividend. April 10 A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. The market value of the stock was $4 on this date. July 18 Declared and distributed a 3% stock dividend on outstanding common stock. The market value is $5 per December 1 Declared a 50 cents per share cash dividend on the outstanding common shares. December 20: Paid the cash dividend Required Without preparing journal entries, prepare the shareholders' equity section of Fascom's balance sheet as of December 31, 2016. Assume net income is $400,000 for 2016. (Negative amounts should be entered minus sign.) FASCOM Balance Sheet December 31, 2016 Shareholders' equity Total shareholders equity