Bretton Manufacturing, Co. has the following selected account balances at April 30, 2014.

Common Shares, 140,000 shares authorized,

issued, and outstanding ........$560,000

Accumulated Depreciation,

Machinery and Equipment.......... 14,000

Retained Earnings .......... 150,000

Inventory .............. $ 55,000

Machinery and Equipment ......... 77,000

Preferred Shares, 5%, 20,000 shares authorized,

6,000 shares issued and outstanding ..... 102,000

Cost of Goods Sold ........... 76,000

Requirement

Prepare the shareholders’ equity section of the company’s balance sheet.