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Honcho Sporting Goods is authorized to issue $5,000$ preferred shares and $10,000$ common shares. During a two$-$month period, Honcho completed these share$-$issuance transactions:

Feb $,23$ Issued $1,000$ common shares for cash of $$17$ per share.

Mar $2$ Issued $300$$$5\mathrm{.}00$ preferred shares for $$27,000$ cash.

$12$ Received inventory valued at $$11,000$ and equipment with fair value of $$44,000$ for $3,300$ common shares.

Required

Prepare the shareholders' equity section of Honcho Sporting Goods balance sheet for the transactions given in this exercise. Retained Earnings has a balance of $$43,000.$ Journal entries are no required.

Prepare the shareholders' equity section of Honcho Sporting Goods balance sheet.

$\backslash$table$[[$Shareholders$\text{'}$ Equity$],[$Shareholders$\text{'}$ equity:$],[$Preferred shares, $$5\mathrm{.}00,5,000$ shares authorized,$],[300$ shares issued$],[$Common shares, $10,000$ shares authorized,$],[4,300$ shares issued$],[$Retained earnings$],[$Total shareholders' equity$]]$