Comparative statements of shareholders equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 31, 2021, 2022, and 2023.

Required: 1. Infer from the statements the events and transactions that affected Anaconda International Corporations 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 Anacondas comparative balance sheets at December 31, 2023 and 2022.

Infer from the statements the events and transactions that affected Anaconda International Corporations 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).)

ANACONDA INTERNATIONAL CORPORATION Statements of Shareholders' Equity For the Years Ended Dec. 31, 2021, 2022, and 2023 ($ in millions) Preferred Common Additional Stock Stock Paid-In $10 par $1 par Capital 45 360 410 48 Retained Earnings 1,574 10 (1) Total Shareholders Equity 1,979 420 54 (1) (11) 210 2,651 (43) (1) (15) (11) 210 10 52 818 (24) 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 (3) 1,772 (16) (1) (15) (5) 360 2,952 789 53 360 2,100 (59) (1) (17) 392 2,415 (1) (17) 392 3,326 15 54 842 Journal entry worksheet 2 3 4 5 6 7 8 ..... 20 Record sale of preferred stock. Note: Enter debits before credits. Date General Journal Debit Credit 2021 Record entry Clear entry View general journal IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB Required 1 Required 2 Prepare the shareholders' equity section of Anaconda's comparative balance sheets at December 31, 2023 and 2022. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) ANACONDA INTERNATIONAL CORPORATION Balance Sheets at December 31 2023 2022 Shareholders' Equity: Total shareholders' equity