Comman shares, un llmilend shares authoiked, 20,400 shares kssued and cutstanding - 5.77,000 Pintained catninish $200,000 Total equity (common shares and retained eamings) $592,000 In.2072, Tropiced Way Limited (rwa) had the following transactions affecting sharchalders and that equity occounts: Jan.S The directors declared a S3.60 per share cash dindend phable on Fob. 28 to thic Feb. 5 shareholders of record. Fob. 28 Paid the dividend declared on January 5 . Jal. 6 Sold 950 common shares at $38.80 per share. Aug: 22 sold 1,450 common shares at $27,60 per share: Sept, 5 The directors declared a $3,60 per share cash dividend pumable on October 28 to the October 5 shareholders of rocord, Oct. 28 Pald the dividend declared on September 5. Dec 31 Closed the $347,600 credit balance in the Income Summary account. nor 31 Cloced than fach nivinetenric armuin? Test knstructions Questions and Ariswers Sheet New Q3 Required: Prepare jeurmal entrios to rocord the transactions and closing for 2023 . No need to prowde furral destriation. Use the jouinal workeheet provided helow. Aso, use the applicable iscounts grovided betaw