6) Lil Mouse Inc. (LMI) is authorized to issue an unlimited number of common shares and 250,000 $1 non- cumulative preferred shares. On January 1, 2023, LMI had the following opening balances in their equity accounts: Preferred shares: $0 $2,400,000 (400,000 shares issued) Contributed surplus: $90,000 Common shares: Retained earnings: $1,820,000 The Contributed Surplus arose from the repurchase of common shares in prior years. During the year ended December 31, 2023, LMI had the following share transactions: Jan. 15/23: June 30/23: Oct. 4/23: Nov.1/23: Nov.5/23: Dec.20/23: Issued 50,000 common shares at $9.25 per share. Issued 40,000 preferred shares at $25 per share. Declared a 6% stock dividend to common shareholders of record on October 4. The price of the common shares was $12 per share on October 4. The stock dividend was paid on October 31, 2023. Issued 10,000 preferred shares at $26 per share. Repurchased and retired 20,000 common shares for $11 per share. (Hint: calculate the average issue price per common share first.). Declared the annual cash dividend to preferred shareholders of record on December 31, payable January 31, 2024. Required (28 marks): Prepare all journal entries related to the 2023 and January 2024 transactions.