Current Attempt in Progress Greencastle Corporation, a publicly traded company, is authorized to issue 219,000 $4 noncumulative preferred shares and an unlimited number of common shares. On January 1, 2021, the general ledger contained the following shareholders' equity accounts: Preferred shares (7,900 shares issued) $442,400 Common shares (76,300 shares issued) 1,068,200 Contributed surplus 24,900 Retained earnings 738,000 Accumulated other comprehensive income 9,900 The following equity transactions occurred in 2021: Feb. 6 Issued 10,400 preferred shares for $634,400. Apr. 6 Issued 21,800 common shares for $599,500. 27 Repurchased and retired 3,100 common shares at $16 per share. The balance in the Contributed Surplus account arose from the repurchase of common shares in prior years. May 29 Declared a semi-annual cash dividend to the preferred shareholders of record at June 12, payable July 1. Aug. 22 Issued 9,500 common shares in exchange for a building. At the time of the exchange, the building was valued at $173,200 and the common shares at $157,000. Dec. 14 The board of directors decided there were insufficient funds to declare the semi-annual dividend to the preferred shareholders. 31 Net income for the year was $581,000. Open T accounts and post to the shareholders'equity accounts. (Record entries in the order presented in the problem.) Preferred Shares Dividends Declared Common Shares > > > Retained Earnings Accumulated Other Comprehensive Income