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4 Comparative statements of shareholders' equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 31, 2024, 2025, and
4 Comparative statements of shareholders' equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 31, 2024, 2025, and 2026. 1.5 points ANACONDA INTERNATIONAL CORPORATION Statements of Shareholders' Equity For the Years Ended December 31, 2024, 2025, and 2026 ($ in millions) Additional Paid-In eBook Print Balance at January 1, 2024 Sale of preferred shares Sale of common shares Cash dividend, preferred Cash dividend, common Net income Preferred Stock $10 Common Stock par $1 par Capital Retained Earnings $ 45 $ 10 6 $ 360 410 48 $ 1,574 Total Shareholders' Equity $ 1,979 420 54 (1) (1) (11) (11) 210 210 Balance at December 31, 2024 10 51 818 1,772 2,651 Retirement of shares (3) (24) (16) (43) References Cash dividend, preferred (1) (1) Cash dividend, common (15) (15) 3-for-2 split effected in the form of a dividend 5 (5) Net income 360 360 Balance at December 31, 2025 15 Common stock dividend 48 6 789 53 2,100 2,952 (59) Cash dividend, preferred (1) (1) Cash dividend, common (17) (17) Net income 392 392 Balance at December 31, 2026 $ 15 $ 54 $ 842 $ 2,415 $ 3,326 Required: 1. Infer from the statements the events and transactions that affected Anaconda International Corporation's shareholders' equity during 2024, 2025, and 2026. 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, 2026 and 2025. Check m
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