$7\mathrm{.}9$ Convertible Preferred Stock. Assume that John Deere Co$.$ issues $2,000$ shares of $$100$

par, $6\%$ convertible preferred stock for $$105$ per share. Shareholders have the right to

exchange each share of convertible preferred stock for five shares of $$10$ par common

stock. Use the template below to show the financial statement effects of the following

events.

a$.$ Issuance of the preferred stock

b$.$ Declaration and payment of the cash dividend on the preferred stock

c$.$ Conversion of the preferred stock to common stock when the market value of the

common stock is $$29$ per share