Dynamic Energy Solutions reported the following amounts in the shareholders' equity section of its December 31, 2020 statement of financial position: Preferred shares, $8 dividend (10,000 shares authorized, 2,000 shares $ 200,000 issued) Common shares (unlimited authorized, 25,000 issued) 600,000 Contributed surplus 55,000 Retained earnings 250,000 Accumulated other comprehensive income 75,000 Total $1,180,000 During 2021, the company had the following transactions that affect shareholders' equity. Paid the annual 2020 $8 per share dividend on preferred shares and a $3 per share dividend on common shares. These dividends had been declared on December 31, 2020. Purchased 3,700 shares of its own outstanding common shares for $35 per share and cancelled them. Issued 1,000 shares of preferred shares at $105 per share (at the beginning of the year). Declared a 10% stock dividend on the outstanding common shares when the shares were selling for $45 per share. Issued the stock dividend. Declared the annual 2021 $8 per share dividend on preferred shares and a $2 per share dividend on common shares. These dividends are payable in 2022. The contributed surplus arose from net excess of proceeds over cost on a previous cancellation of common shares. Total assets at December 31, 2020 were $2,140,000, and total assets at December 31, 2021 were $2,616,000. The company follows IFRS. Required a. Prepare journal entries to record the transactions above. b. Prepare the December 31, 2021 shareholders' equity section. Assume 2021 net income was $450,000 and comprehensive income was $455,000. C. Calculate the rate of return on common shareholders' equity and the rate of return on total assets for 2021. Is Dynamic Energy Solutions trading on the equity? Evaluate the results from the perspective of a common shareholder