The shareholders' equity of Inspiration Management Corp. as of January 1, 2020, follows: E (Click the icon to view the shareholders' equity at the end of 2020.) Inspiration Management Corp. completed the following transactions during 2020: (Click on the icon to view the transactions.) Required Prepare the shareholders' equity section of the balance sheet of Inspiration Management Corp. as of December 31, 2020. Do not prepare journal entries for the above transactions. Prepare the shareholders' equity section for the balance sheet for Inspiration Management Corp. as of December 31, 2020. Shareholders' Equity Contributed capital Preferred shares, $3.00 noncumulative 20,000 shares authorized, 4,000 shares issued and outstanding Common shares, unlimited shares authorized, shares issued and outstanding 200000 Total contributed capital Retained earnings Total shareholders' equity i More Info Feb. 6 Declared the required annual cash dividend on preferred shares and a $0.20 per share cash dividend on the common shares. 26 Paid the cash dividend that was declared on February 6. Jun. 4 Purchased 6,000 of its own common shares for $15.25 per share. Jul. 5 Distributed a 2-for-1 stock split on the common shares. The net loss for the year was $78,000. Shareholders' Equity Contributed capital Preferred shares, $3.00, noncumulative 20,000 shares authorized, 4,000 shares issued and outstanding $ 200,000 2,000,000 Common shares, unlimited shares authorized, 200,000 shares issued and outstanding Total contributed capital 2,200,000 626,900 Retained earnings $ 2,826,900 Total shareholders' equity