The December 31, 2020, equity section of ZoomZoom Inc.’s balance sheet appears below.
ZoomZoom Inc.
Equity Section of the Balance Sheet
December 31, 2020
Contributed capital: Preferred shares, $3.75 cumulative, 46,000 shares authorized and issued $ 1,720,000 Preferred shares, $10 non-cumulative, 7,400 shares authorized and issued 730,000 Common shares, 460,000 shares authorized and issued 1,810,000 Total contributed capital $ 4,260,000 Retained earnings 771,600 Total equity $ 5,031,600