You are provided with the following information from the equity section of Tingwick Ltd.’s balance sheet on December 31, 2013:

During the year ended December 31, 2014 the following occurred (events are recorded in the order they occurred during the year):
i. Semi-annual dividend on common shares of \($0.80\) per share was declared and paid.
ii. Issued 4,000,000 common shares for \($11\) per share.
iii. Issued 500,000 preferred shares for \($23\) per share.
iv. Issued 1,000,000 common shares in exchange for all the common shares of another company. The estimated value of the acquired company was \($12\) million.
v. Preferred dividends of \($3\) per share were declared and paid.
vi. Declared a 5 percent stock dividend on the outstanding common shares.
vii. Net income was \($42,000,000.\)
viii. Comprehensive income for 2014 was \($41,200,000.\)
ix. Semi-annual dividend on common shares of \($0.85\) was declared. The dividend will be paid in January 2015.

Required:
Prepare the shareholders’ equity section of Tingwick balance sheet on December 31, 2014.

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Preferred shares-authorized, 2,500,000 shares; outstanding 1,000,000 shares $ 22,000,000 Common shares-authorized, 200,000,000; outstanding 75,000,000 shares Accumulated other comprehensive income Retained earnings 360,000,000 1,750,000 218,500,000