Qualified Research Inc.ended 2013 with Retained Earnings of $55,000.During 2014,the company earned net income of $115,000 and declared dividends of $25,000.The company ended 2013 with $25,000 in common shares and $20,000 in $1 preferred shares.Additional common shares were sold in 2014 for $15,000.Complete Qualified Research Inc.'s statement of shareholders' equity for the year ended December 31,2014.

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The Answer of Qualified Research Inc.ended 2013 with Retained Earnings of $55,000.During 2014,the company earned net income of $115,000 and declared dividends of $25,000.The company ended 2013 with $25,000 in common shares and $20,000 in $1 preferred shares.Additional common shares were sold in 2014 for $15,000.Complete Qualified Research Inc.'s statement of shareholders' equity for the year ended December 31,2014.