Current Attempt in Progress Larkspur Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July 31,2024 . The following information has been taken from the adjusted trial balance: All accounts have normal balances and total assets equal $670,350. Larkspur has a 20% income tax rate. Current Attempt in Progress Sweet Acacia Ltd. is a private company that follows ASPE. It-is authorized to issue an unlimited number of both common and $6.50 cumulative preferred shares. On December 31, 2024, there were 15,150 common and 1,010 preferred shares issued with the. following balances: Common Shares, $151,500; and Preferred Shares, $101,000. The statement of retained earnings showed retained earnings of $287,850 at December 31,2024 . The dividend on the preferred shares was two years in arrears. Prepare the shareholders' equity section of the balance shcet on December 31,2024. Current Attempt in Progress Larkspur Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July 31,2024 . The following information has been taken from the adjusted trial balance: All accounts have normal balances and total assets equal $670,350. Larkspur has a 20% income tax rate. Current Attempt in Progress Sweet Acacia Ltd. is a private company that follows ASPE. It-is authorized to issue an unlimited number of both common and $6.50 cumulative preferred shares. On December 31, 2024, there were 15,150 common and 1,010 preferred shares issued with the. following balances: Common Shares, $151,500; and Preferred Shares, $101,000. The statement of retained earnings showed retained earnings of $287,850 at December 31,2024 . The dividend on the preferred shares was two years in arrears. Prepare the shareholders' equity section of the balance shcet on December 31,2024