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Comparative statements of shareholders equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 3 1 , 2 0 2

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 Stock
$10 par Common Stock
$1 par Additional
Paid-In Capital Retained Earnings Total
Shareholders' Equity
Balance at January 1,2021655201,8602,445
Sale of preferred shares 30900930
Sale of common shares 75663
Cash dividend, preferred (3)(3)
Cash dividend, common (17)(17)
Net income 340340
Balance at December 31,202130721,4762,1803,758
Retirement of shares (2)(16)(24)(42)
Cash dividend, preferred (3)(3)
Cash dividend, common (21)(21)
3-for-2 split effected in the
form of a dividend 15(15)
Net income 490490
Balance at December 31,202245701,4452,6224,182
Common stock dividend 437(41)
Cash dividend, preferred (3)(3)
Cash dividend, common (23)(23)
Net income 532532
Balance at December 31,202345741,4823,0874,688
________________________________________
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.

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