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Bonita Ltd. issues 8,100, $6 cumulative preferred shares at $62 each and 15,000 common shares at $30 each at the beginning of 2019. Each preferred

Bonita Ltd. issues 8,100, $6 cumulative preferred shares at $62 each and 15,000 common shares at $30 each at the beginning of 2019. Each preferred share is convertible into two common shares. During the years 2020 and 2021, the following transactions affected Bonita's shareholders' equity accounts:

2020
Jan. 10 Paid $13,000 of annual dividends to preferred shareholders.
2021
Jan. 10 Paid annual dividend to preferred shareholders and a $3,700 dividend to common shareholders.
Mar. 1 The preferred shares were converted into common shares.

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