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 (5 in millions) Preferred 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: Stock Common Stock Additional Paid-In Retained Total Shareholders' $10 par $1 par Capital Earnings Equity 70 560 1,684 2,314 20 920 940 5 40 45 (2) (2) (16) (16) 260 260 201 75 1,520 1,926 3,541 (8) (64) (12) (84) (2) (2) (20) (20) 10 30 (10) 410 1,446 61 2,302. 410 3,845 (68) 2) (2) (2) (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. Journal entry worksheet < 6 7 8 9 10 11 Record declaration of cash dividend for common shares 20 20 < 1 7 8 9 10 10 11 12 20 20 Record payment of cash dividend for common shares. < 6 10 11 12 13 20 20 Record the stock split for preferred shares effected in the form of a dividend. 8 * Journal entry worksheet < 1 ... 9 10 11 12 12 13 Record transfer of net income to retained earnings. 14 14 20 20 < Worksheet 10 11 12 13 14 15 20 20 Record distribution of common stock dividend. 1 .... 11 12 13 14 15 Journal entry worksheet > 16 16 Record declaration of cash dividend for preferred shares. 20 20 Record payment of cash dividend for preferred shares. Note: Enter debits before credits. Date 2023 General Journal Debit Credit Journal entry worksheet < 1 13 14 15 16 17 18 20 20 Record declaration of cash dividend for common shares. Note: Enter debits before credits. Date General Journal Debit Credit es 14 15 16 11 17 18 19 20 20 Record payment of cash dividend for common shares. Note: Enter debits before credits. Date 2023 General Journal Debit Credit ces Journal entry worksheet 1 13 14 15 **** 16 17 18 19 2 Record transfer of net income to retained earnings. Note: Enter debits before credits. Date General Journal Debit Credit