Comparative statements of shareholders' equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 31, 2024, 2025, and 2026 ANACONDA INTERNATIONAL CORPORATION Statements of Shareholders' Equity For the Years Ended December 31, 2024, 2025, and 2826 (s in millions) Balance at January 1, 2024 Sale of preferred shares Sale of common shares Cash dividend, preferred. Cash dividend, common Net income Balance at December 31, 2024 Retirement of shares Cash dividend, preferred Cash dividend, common 3-for-2 split effected in the form of a dividend Net income Balance at December 31, 2025 Common stock dividend Cash dividend, preferred Cash dividend, common Net income Balance at December 31, 2026 Required: Preferred Stock $10 par Common Stock $1 par Additional Paid-In Retained Capital Earnings $ 60 $ 360 $1,794 $ 20 820 Total Shareholders Equity $ 2,214 840 42 49 (2) (2) (14) (14) 310 310 20 67 1,222 2,088 3,397 (5) (30) (12) (47) (2) (2) (18) (18) (10) 468 460 62 1,182 2,516 3,790 6 41 (47) (2) (2) (20) (28) 502 502 $:30 $68 $1,223 $2,949 $ 4,270 1. Infer from the statements the events and transactions that affected Anaconda International Corporation's shareholders' equity during 2024, 2025, and 2026. Prepare the journal entries that reflect those events and transactions. (Hint: In lieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss.) 2. Prepare the shareholders' equity section of Anaconda's comparative balance sheets at December 31, 2026 and 2025. 1 Record sale of preferred stock. Record sale of common stock. Record declaration of cash dividend for preferred shares. Record payment of cash dividend for preferred shares. 5 Record declaration of cash dividend for common shares. 6 Record payment of cash dividend for common shares. 8 Record transfer of net income to retained earnings. Record the repurchase of shares for retirement. (Assume weighted average method). 9 Record declaration of cash dividend for preferred shares. 10 Record payment of cash dividend for preferred shares. 11 Record declaration of cash dividend for common shares 12 Record payment of cash dividend for common shares. 13 Record the stock split for preferred shares effected in the form of a dividend. 14 Record transfer of net income to retained earnings. 15 Record distribution of common stock dividend. 16 Record declaration of cash dividend for preferred shares. 17 Record payment of cash dividend for preferred shares. 18 19 20 Record declaration of cash dividend for common shares. Record payment of cash dividend for common shares. Record transfer of net income to retained earnings. Prepare the shareholders' equity section of Anaconda's comparative balance sheets at December 31, 2026 and 2025. Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). ANACONDA INTERNATIONAL CORPORATION Comparative Balance Sheets Shareholders' Equity: (Shareholders' Equity section) + at December 31 2026 2025 Total shareholders' equity $ 0 $ 0