Concord Corporation, a private corporation, was organized on February 1, 2023. It is authorized to issue 92,400 , $6 noncumulative preferred shares, and an unlimited number of common shares. The following transactions were completed during the first year: Feb. 10 Issued 73,920 common shares at $4 per share Mar. 1 Issued 4,620 preferred shares at $114 per share. Apr. 1 Issued 20,790 common shares for land. The land's asking price was $92,400 and its appraised value was $83,160. June 20 Issued 72,072 common shares at $4.50 per share. July 7 Issued 9,240 common shares to lawyers to pay for their bill of $41,580 for services they performed in helping the comp Sept. 1 Issued 9,240 common shares at $5 per share. Nov. 1 Issued 924 preferred shares at $120 per share. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. (ist all debit entries before credit entries.) Preferred Shares Determine the number of shares issued and the average per share amount for both common and preferred shares. (Round average per share to 2 decimal places, e.g. 52.75.) List of Accounts How many more shares is the company authorized to issue for each class of shares? The company is authorized to issue an additional preferred shares and an number On January 1, 2024, Sheridan Ltd. had the following shareholders' equity accounts: The company was also authorized to issue an unlimited number of $4 noncumulative preferred shares. As at January 1, 2024, none had been issued. During 2024, the corporation had the following transactions and events related to its shareholders' equity: Jan. 2 Issued 114,000 preferred shares for $50 per share Mar. 31 Paid quarterly dividend to preferred shareholders. June 30 Paid quarterly dividend to preferred shareholders. Aug. 12 Issued 106,000 common shares for $1.70 per share. Sept. 30 Paid quarterly dividend to preferred shareholders. Dec. 31 Paid quarterly dividend to preferred shareholders and a $0.25 per share dividend to the common shareholders. Dec 31 Loss for the year was $105,500. Journalize the transactions and the entries to close dividends and the Income Summary account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. List alf deblit entries before credit entries.) Prepare the shareholders' equity section of the balance sheet at December 31,2024, including any required disclosures. Assume Sheridan is reporting under ASPE. (Enter account name only and do not provide descriptive information.)