Bramble Corporation is authorized to issue an unlimited number of $5 cumulative preferred shares and an unlimited number of common shares. On February 1, 2020, the general ledger contained the following shareholders' equity accounts:

Preferred shares (10,000 shares issued)		$500,000
Common shares (68,000 shares issued)		1,020,000
Retained earnings		748,000

The following equity transactions occurred during the year ended January 31, 2021:

Feb.	28		Issued 4,100 preferred shares for $229,600.
Apr.	12		Issued 180,000 common shares for $2.88 million.
May	25		Issued 4,100 common shares in exchange for land. At the time of the exchange, the land was valued at $61,500.
Jan.	1		Paid dividend of $2.50 per share to preferred shareholders.
Jan.	31		A loss of $60,000 was incurred for the year.

Journalize the transactions and the entries to close dividends and the Income Summary account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
Feb. 28Apr. 12May 25Jan. 1Jan. 31
	(To record issuance of shares.)
Feb. 28Apr. 12May 25Jan. 1Jan. 31
	(To record issuance of shares.)
Feb. 28Apr. 12May 25Jan. 1Jan. 31
	(To record issuance of shares.)
Feb. 28Apr. 12May 25Jan. 1Jan. 31
	(To record declaration and payment of dividend.)
Feb. 28Apr. 12May 25Jan. 1Jan. 31
	(To close Income Summary.)
Feb. 28Apr. 12May 25Jan. 1Jan. 31
	(To close dividends.)

Prepare the shareholders'equity section of the balance sheet at January 31, 2021, including any required disclosures. Assume Bramble is reporting under ASPE and there were no preferred dividend arrears at January 31, 2020. (Ester octawit name only and do not provide descriptive information! BRAMBLE CORPORATION Balance Sheet (Partial) $ $