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, 2021				65				455				1,662				2,182
Sale of preferred shares	20							900								920
Sale of common shares				7				49								56
Cash dividend, preferred												(2	)			(2	)
Cash dividend, common												(15	)			(15	)
Net income												250				250
Balance at December 31, 2021	20			72				1,404				1,895				3,391
Retirement of shares				(7	)			(49	)			(14	)			(70	)
Cash dividend, preferred												(2	)			(2	)
Cash dividend, common												(19	)			(19	)
3-for-2 split effected in the form of a dividend	10							(10	)
Net income												400				400
Balance at December 31, 2022	30			65				1,345				2,260				3,700
Common stock dividend				8				61				(69	)
Cash dividend, preferred												(2	)			(2	)
Cash dividend, common												(21	)			(21	)
Net income												442				442
Balance at December 31, 2023	30			73				1,406				2,610				4,119

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.