a) Prepare journal entries to record the transactions above.

Swifty Corp. reported the following amounts in the shareholders' equity section of its December 31, 2019 SFP: Preferred shares, $7 dividend (12,000 shares authorized, 2,400 shares issued) Common shares (unlimited authorized, 29,000 issued) Contributed surplus Retained earnings Accumulated other comprehensive income Total $242,400 696,000 47,100 300,000 66,000 $1,351,500 During 2020, the company had the following transactions that affect shareholders' equity. LI, 2019 1. Paid the annual 2019 $7 per share dividend on preferred shares and a $3 per share dividend on common shares. These dividends had been declared on December 31, 2 2. Purchased 3,500 shares of its own outstanding common shares for $30 per share and cancelled them. 3. Issued 1,000 shares of preferred shares at $102 per share (at the beginning of the year). 4. Declared a 15% stock dividend on the outstanding common shares at their fair value when the shares were selling for $44 per share. 5. Issued the stock dividend. 6. Declared the annual 2020 $7 per share dividend on preferred shares and a $2 per share dividend on common shares. These dividends are payable in 2021. The contributed surplus arose from net excess of proceeds over cost on a previous cancellation of common shares. Total assets at December 31, 2019, were $2,140,000, and total assets at December 31, 2020 were $2,616,000. The company follows IFRS