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Date	Account Title & Explanation	Debit	Credit
Octobr 13	Cash Dividends - Preferred	10700
	Cash Dividends - Common	14300
	Dividends Payable		25000

How were these values derived??? where did 10,700 and 14,300 came from

Gecko Inc. has the following balances in its shareholders' equity section of the balance sheet. Gecko Inc. Balance Sheet (partial) As at December 31, 2019 Shareholders' Equity Contributed Capital Preferred Shares, 10% noncumulative, 40,000 shares authorized, 12,000 shares issued and outstanding Common Shares, 1,000,000 shares authorized, 75,000 shares issued and outstanding Total Contributed Capital Retained Earnings Total Shareholders' Equity $60,000 75,000 135,000 147525 $282.525 per share The following transactions occurred during the year 2020. Jan 9 Issued 20,000 common shares for $4.50 per share and 3,000 preferred shares for Jun 7 Issued 4,000 preferred shares in exchange for equipment valued at $26,000. The fair value of the shares could not be readily determined. Sep 8 Issued 12,000 common shares for $4.75 per share Oct 13 Declared $25,000 of cash dividends. The company uses the cash dividends account to record dividends. Dec 13 Paid the dividends declared on October 13 Dec 31 Estimated income tax expense of $31,000. Net income after income tax was $89,000. Required a) Prepare the journal entries to record the above transactions for 2020