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Prepare the shareholders' equity section of the balance sheet at January $31,2021,$ including any required disclosures. Assume Ayayai is reporting under ASPE and there were no preferred dividend arrears at January $31,2020.($Enter account name only and do not provide descriptive information$)$ AYAYAI CORPORATION Balance Sheet $($Partial$)$ Year Ended January $31,2021$ Current Liabilities Contributed Capital Current Liabilities Total Current Liabilities Total Shareholders' Equity Share Capital Shareholders' Equity Total Share Capital $Ayayai Corporation is authorized to issue an unlimited number of $$5$ cumulative preferred shares and an unlimited number of common shares. On February $1,2020,$ the general ledger contained the following shareholders equity accounts: Preferred shares $(10,000$ shares issued$)$ $$450,000$ Common shares $(40,000$ shares issued$)480,000$ Retained earnings $650\mathrm{.}000$ The following equity transactions occurred during the year ended January $31,2021$ Feb $28$ Issued $4,000$ preferred shares for $$208,000$ Apr. $12$ Issued $180,000$ common shares for $$2\mathrm{.}34$ million May $25$ Issued $4,000$ common shares in exchange for land. At the time of the exchange, the land was valued at $$48,000$ Jan $1$ Paid dividend of $$2\mathrm{.}50$ per share to preferred shareholders Jan. $31$ A loss of $$40\mathrm{.}000$ was incurred for the year. $1036$ AM

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