Comparative statements of shareholders' equity for Anaconda International Corporation were reported as follows for the fiscal years ending December 31, 2018, 2019, and 2020. $10 par Total Shareholders' Equity 2,206 860 30 (2) (15) 320 ANACONDA INTERNATIONAL CORPORATION Statements of Shareholders' Equity For the Years Ended Dec. 31, 2018, 2019, and 2020 ($ in millions) Preferred Common Additional Stock Stock Paid-In Retained $1 par Capital Earnings Balance at January 1, 2018 65 325 1,816 Sale of preferred shares 20 840 Sale of common shares 5 25 Cash dividend, preferred (2) Cash dividend, common (15) Net income 320 Balance at December 31, 2018 20 70 1,190 2,119 Retirement of shares (4) (20) (10) Cash dividend, preferred (2) Cash dividend, common (19) 3-for-2 split effected in the form of a dividend 10 (10) Net income 470 Balance at December 31, 2019 30 66 1,160 2,558 Common stock dividend 7 40 (47) Cash dividend, preferred (2) Cash dividend, common (21) Net income 512 Balance at December 31, 2020 30 73 1,200 3,000 3,399 (34) (2) (19) 470 3,814 (2) (21) 512 4,303 Required: 1. Infer from the statements the events and transactions that affected Anaconda International Corporation's shareholders' equity during 2018, 2019, and 2020. Prepare the journal entries that reflect those events and transactions. 2. Prepare the shareholders' equity section of Anaconda's comparative balance sheets at December 31, 2020 and 2019. 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 2018, 2019, and 2020. Prepare the journal entries that reflect those events and transactions. (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).) View transaction list Journal entry worksheet Record sale of preferred stock. Journal entry worksheet N Record sale of common stock. Journal entry worksheet Record payment of cash dividend for preferred shares. Journal entry worksheet Record transfer of net income to retained earnings. Journal entry worksheet Record declaration of cash dividend for preferred shares. Journal entry worksheet Record payment of cash dividend for common shares. Journal entry worksheet Record the stock split for preferred shares effected in the form of a dividend. Journal entry worksheet Record distribution of common stock dividend. Journal entry worksheet Record declaration of cash dividend for preferred shares. Journal entry worksheet Record payment of cash dividend for common shares. Journal entry worksheet
