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Question 4 [5 points] Benson Inc. showed the following equity information as at December 31, 2014. a. The preferred shares had sold for an average price of $12. b. The common shares had sold for an average price of $6. c. Retained Earnings at December 31, 2013, was $480,000. During 2014, net income earned was $650,000. The board of directors declared a total cash dividend of $100.000 Use this information to complete the equity section of the balance sheet. Benson Inc. Equity Section of the Balance Sheet December 31, 2014 Contributed capital: Preferred shares, $3.00 non-cumulative; 350.000 shares authorized; 80,000 shares issued and outstanding Common shares; unlimited shares authorized: shares issued and outstanding Total contributed capital Retained earings Total equity 3,040,000