As at September 30, the end of Excel Companys third quarter, the following shareholders equity accounts are reported. Share capital-Ordinary, $12 par value $ 360,000 Share Premium - Ordinary 100,000 Retained earnings 360,000 In the fourth quarter, the following entries related to its equity are recorded. Date General Journal Debit Credit Oct. 2 Retained Earnings 60,000 Ordinary Dividend Payable 60,000 Oct. 25 Ordinary Dividend Payable 60,000 Cash 60,000 Oct. 31 Cash 75,000 Share CapitalOrdinary, $12 Par Value 36,000 Share Premium - Ordinary 39,000 Dec. 1 MemoChange the title of the ordinary shares account to reflect the new par value of $4. Dec. 31 Income Summary 280,000 Retained Earnings 280,000