Amusement Corp. showed the following amounts in the equity section of its balance sheet at January 1, 2020:

Preferred shares, $2 cumulative (in arrears for 2019), 10,000 shares issued Common shares 40,000 shares issued Retained earnings In 2021:

$ 500,000 $ 800,000 $ 500,000

On January 20, 2020, On November 1, 2020, On December 31, 2020

Required

10,000 common shares were issued for $150,000 Cash dividends of $90,000 were declared. Dividends will be paid on January 18, 2021 Amusement Corp. reported revenues of $150,000 and expenses of $80,000 for the year

1. What is the amount of dividend per share owing to preferred shareholders?

2. Prepare journal entries for 2020. Use an Income summary account and Dividend declared account as required

3. Calculate the average issue price per common share for 2020

4. Prepare the statement of changes in shareholders equity for the year ended December 31, 2020

5. Prepare the balance sheet (partial) at December 31, 2020

6. Note: you can skip posting any other point but I need point 5 to be done (balance sheet)-Thank you!