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Homework Answers
The Shareholders' Equity section will be prepared in the following manner:
Share Capital
Preferred Shares = $168000
Common Shares = $658600
Retained Earnings = $105000
Total Stockholders Equity = $931600
Notes
Common Stock
Issued to owners = 21000*3*10 = $630000
Issued = 2200*13 = 28600
Preferred Stock
6200 shares issued = 6200*20 = $124000
2200 shares issued = 2200*20 = $44000
Retained Earnings
Revenues - Expenses = 340000-235000 = $105000
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