Aylmer follows IFRS

On December 31, 2021 the company declared a dividend of $0.23 per share for common shares outstanding and $1.25 per share on preferred shares. The dividends will be paid in January 2022.

There were no dividends declared in 2020.

The company has 100,000 preferred shares issued and outstanding for the entire year. The preferred shares are non-cumulative and non-participating. There is a conversion feature where each preferred share can be converted into 20 common shares.

On January 1, 2021; the company had 600,000 common shares outstanding. On April 1, the company issued 200,000 common shares. There was a 2 for 1 stock split on June 1

Required: Post any journal entries required for the year end, 2021