Comparative statements of shareholders' equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 31, 2021, 2022, and 2023. ANACONDA INTERNATIONAL CORPORATION Statements of Shareholders' Equity For the Years Ended Dec. 31, 2021, 2022, and 2023 ($ in millions) Preferred Common Stock Additional Stock Paid-In $10 par $1 par Capital 70 560 Retained Earnings 1,684 Total Shareholders' Equity 20 920 2,314 940 5 40 Balance at January 1, 2021 Sale of preferred shares Sale of common shares Cash dividend, preferred Cash dividend, common Net income Balance at December 31, 2021 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, 2022 Common stock dividend Cash dividend, preferred Cash dividend, common. Net income Balance at December 31, 2023 Required: (2) (16) 45 (2) (16) 260 260 20 75 (8) 1,520 (64) 1,926 3,541 (12) (84) (2) (2) (20) (20) 10 (10) 410 410 30 67 7 1,446 61 2,302 3,845 (68) (2) (2) (22) (22) 452 452 30 74 1,507 2,662 4,273 1. Infer from the statements the events and transactions that affected Anaconda International Corporation's shareholders' equity during 2021, 2022, and 2023. 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, 2023 and 2022. Required: 1. Infer from the statements the events and transactions that affected Anaconda International Corporation's shareholders' equity durin- 2021, 2022, and 2023. 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, 2023 and 2022. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Infer from the statements the events and transactions that affected Anaconda International Corporation's shareholders' equity during 2021, 2022, and 2023. 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.) (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Show less A View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 20 > Record sale of preferred stock. Journal entry worksheet < 1 2 3 4 5 6 7 8 ..... 20 > Record sale of common stock. Note: Enter debits before credits. Date 2021 + General Journal Debit Credit Journal entry worksheet < 1 2 3 4 5 6 7 8 20 > Record declaration of cash dividend for preferred shares. Note: Enter debits before credits. Date 2021 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 6 7 8 ..... 20 20 Record payment of cash dividend for preferred shares. Note: Enter debits before credits. Date 2021 General Journal Debit Credit Journal entry worksheet < 1 2 3 4 6 7 8 ..... 20 Record declaration of cash dividend for common shares. Note: Enter debits before credits. Date 2021 General Journal Debit Credit Record payment of cash dividend for common shares. Note: Enter debits before credits. Date 2021 General Journal Debit Credit Record transfer of net income to retained earnings. Note: Enter debits before credits. Date 2021 General Journal Debit Credit Record entry Clear entry View general journal Record the repurchase of shares for retirement. (Assume weighted average method). Note: Enter debits before credits. Date 2022 General Journal Debit Credit Record declaration of cash dividend for preferred shares.. Note: Enter debits before credits. Date 2022 General Journal Debit Credit Record payment of cash dividend for preferred shares. Note: Enter debits before credits. Date 2022 General Journal Debit Credit