• 1

  Record sale of preferred stock.

• 2

  Record sale of common stock.

• 3

  Record declaration of cash dividend for preferred shares.

• 4

  Record payment of cash dividend for preferred shares.

• 5

  Record declaration of cash dividend for common shares.

• 6

  Record payment of cash dividend for common shares.

• 7

  Record transfer of net income to retained earnings.

• 8

  Record the repurchase of shares for retirement. (Assume weighted average method).

• 9

  Record declaration of cash dividend for preferred shares.

• 10

  Record payment of cash dividend for preferred shares.

• 11

  Record declaration of cash dividend for common shares

• 12

  Record payment of cash dividend for common shares.

• 13

  Record the stock split for preferred shares effected in the form of a dividend.

• 14

  Record transfer of net income to retained earnings.

• 15

  Record distribution of common stock dividend.

• 16

  Record declaration of cash dividend for preferred shares.

• 17

  Record payment of cash dividend for preferred shares.

• 18

  Record declaration of cash dividend for common shares.

• 19

  Record payment of cash dividend for common shares.

• 20

  Record transfer of net income to retained earnings.

Comparative statements of shareholders' equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 31, 2021, 2022, and 2023. Retained Earnings 1,640 Total Shareholders' Equity 2,000 450 54 (1) (14) ANACONDA INTERNATIONAL CORPORATION Statements of Shareholders' Equity For the Years Ended Dec. 31, 2021, 2022, and 2023 ($ in millions) Preferred Common Additional Stock Stock Paid-In $10 par Si par Capital Balance at January 1, 2021 60 300 Sale of preferred shares 10 440 Sale of common shares 9 45 Cash dividend, preferred Cash dividend, common Net income Balance at December 31, 2021 10 69 785 Retirement of shares (6) (30) Cash dividend, preferred Cash dividend, common 3-for-2 split effected in the form of a dividend 5 (5) Net income Balance at December 31, 2022 15 63 750 Common stock dividend 9 50 Cash dividend, preferred Cash dividend, common Net income Balance at December 31, 2023 15 72 800 (1) (14) 240 1,865 (10) (1) (18) 240 2,729 (46) (1) (18) 390 3,054 390 2,226 (59) (1) (20) 432 2,578 (1) (20) 432 3,465 Required: 1. Infer from the statements the events and transactions that affected Anaconda International Corporation's shareholders' equity during 2021, 2022, and 2023. Prepare the journal entries that reflect those events and transactions. (Hint: In lieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss.) 2. Prepare the shareholders' equity section of Anaconda's comparative balance sheets at December 31, 2023 and 2022