Mussalem Motors Inc. reported these comparative shareholders' equity data:
___________________________December 31,
_________________________2014 2013
Common shares..............$1,530,000.....$ 300,000
Retained earnings.............2,318,000.....1,538,000
During 2014, Mussalem Motors Inc. completed these transactions and events:
a. Net income, $1,430,000.
b. Cash dividends, $650,000.
c. Issuance of common shares for cash, 3,000 shares at $60.00 per share.
d. Issuance of common shares to purchase another company (Mussalem Motors debited the Investments account), 15,000 shares at $70.00 per share.
Required
Without making journal entries, show how Mussalem Motors Inc.'s 2014 transactions and events accounted for the changes in the shareholders' equity accounts. For each shareholder's equity account, start with the December 31, 2013, balance and work toward the balance at December 31, 2014.