The following is a summary of all relevant transactions of Ashgrove Corporation since it was organized in 2025.
In 2025, 18,000 shares were authorized, and 8,400 ordinary shares ($50 par value) were issued at a price of $57. In 2026, 1,200 shares were issued as a share dividend when a share was selling for $60. Three hundred sixty ordinary shares were bought in 2027 at a cost of $64 per share. These 360 shares are still in the Company's treasury.
In 2026, 12,000 preference shares were authorized and the company issued 6,000 of them ($100 par value) at $113. Some of the preference shares were reacquired by the company and later reissued for $5,640 more than it cost the company.
The corporation has earned a total of $732,000 in net income and paid out a total of $375,120 in cash dividends since incorporation.
Instructions: Prepare the equity section of the statement of financial position in proper form for Ashgrove Corporation as of December 31, 2027. Account for treasury shares using the cost method.