The Shareholders' Equity of Orion Corporation as of December 31,2013,follows

The shareholders' equity of Orion Corporation as of December 31,2013,follows:
$\begin{array}{ll} \text { Preferred shares, \( \$ 3 \), noncumulative 8,000 shares}\\ \text { authorized, 3,000 shares issued}& \$ 157,500 \\ \text { Common shares, unlimited shares authorized,}\\80,000 \text { shares issued } & \underline{1,000,000} \\\text { Total contributed capital } & \$ 1,157,500 \\\text { Retained earrings } & \underline{405,800} \\\text { Total shareholders' equity } & \underline{\$ 1,563,300}\end{array}$ Orion Corporation completed the following transactions during 2014:
Mar. 5 Declared the required annual cash dividend on preferred shares and a $\$ 0.40$ per share cash dividend on the common shares,
26 Paid the cash dividend that was declared on March 5.
May 2 Purchased 3,000 of its own common shares for $\$ 17.50$ per share.
Jul. 5 Distributed a 2-for-1 stock split on the common shares.
Dec. 31 Closed out the income summary account with a credit balance of $\$ 287,000$ Prepare the shareholders' equity section of the balance sheet of Orion Corporation as of December 31,2014.Do not prepare journal entries for the above transactions.