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.