The following is a summary of all relevant transactions of Vicario Corporation since it was organized in 2022.

In 2022, 15,000 shares were authorized and 7,000 ordinary shares ($50 par value) were issued at a price of $57. In 2023, 1,000 shares were issued as a share dividend when a share was selling for $60. Three hundred ordinary shares were bought in 2024 at a cost of $64 per share. These 300 shares are still in the company treasury.

In 2023, 10,000 preference shares were authorized and the company issued 5,000 of them ($100 par value) at $113. Some of the preference shares were reacquired by the company and later reissued for $4,700 more than it cost the company.

The corporation has earned a total of $610,000 in net income and paid out a total of $312,600 in cash dividends since incorporation.

Instructions

Prepare the equity section of the statement of financial position in proper form for Vicario Corporation as of December 31, 2024. Account for treasury shares using the cost method.