You may use the attached spreadsheet to help you complete this activity, but you are not required to do so. You will find the spreadsheet by clicking on the green Excel icon in the upper left hand corner of the activity. On January 1, 2019, Powder Company provided the following shareholders' equity section of its balance sheet: Contributed Capital: Preferred stock, $100 par Common stock, $5 par Additional paid-in capital on preferred stock Additional paid-in capital on common stock Total contributed capital Retained earnings Total Shareholders' Equity During 2019, the following transactions and events occurred and were properly recorded: 1. Powder issued 1,800 shares of common stock at $13 per share. 2. Powder issued 340 shares of preferred stock at $130 per share. 3. Powder earned net income of $38,950. 4. Powder paid a $7 per share dividend on the preferred stock and a $1 per share dividend on the common stock outstanding at the end of 2019. Required: Prepare Powder's statement of shareholders' equity (include retained earnings) for 2019. POWDER COMPANY Statement of Shareholders' Equity For Year Ended December 31, 2019 Additional Paid-in Capital on Preferred Stock Preferred Stock $100 par $ 92,800 37,400 21,500 58,700 $210,400 185,700 $396,100 Common Stock $5 par $ Additional Paid-in Capital on Common Stock Retained Earnings Total

You may use the attached spreadsheet to help you complete this activity, but you are not required to do so. You wir find the spreadsheet by clicking on the green Excel icon in the upper left hand corner of the activity. On January 1, 2019, Powder Company provided the following shareholders' equity section of its balance sheet: During 2019, the following transactions and events occurred and were properly recorded: 1. Powder issued 1,800 shares of common stock at $13 per share. 2. Powder issued 340 shares of preferred stock at $130 per share. 3. Powder earned net income of $38,950. 4. Powder paid a $7 per share dividend on the preferred stock and a $1 per share dividend on the common stock outstanding at the end of 2019. Required: Prepare Powder's statement of shareholders' equity (include retained earnings) for 2019