Comparative statements of shareholders' equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 31, 2021, 2022, and 2023. Retained Earnings 1,794 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 Balance at January 1, 2021 60 360 Sale of preferred shares 20 820 Sale of common shares 7 42 Cash dividend, preferred Cash dividend, common Net income Balance at December 31, 2021 20 67 1,222 Retirement of shares (5) (30) Cash dividend, preferred Cash dividend, common 3-for-2 split effected in the form of a dividend 10 (10) Net income Balance at December 31, 2022 30 62 1,182 Common stock dividend 6 41 Cash dividend, preferred Cash dividend, common Net income Balance at December 31, 2023 30 68 1,223 (2) (14) 310 2,088 (12) (2) (18) Total Shareholders' Equity 2,214 840 49 (2) (14) 310 3,397 (47) (2) (18) 460 3,790 460 2,516 (47) (2) (20) 502 2,949 (2) (20) 502 4,270 Required: 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. 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