Dynatech Corporation, a publicly traded company, is authorized to issue 590,000 $4 cumulative preferred shares and an unlimited number of common shares. On January 1, 2024, the general ledger contained the following shareholders equity accounts: Preferred shares (7,080 shares issued) $495,600 Common shares (106,200 shares issued) 849,600 Contributed surplus 17,700 Retained earnings 708,000 Accumulated other comprehensive income 5,900 The following equity transactions occurred in 2024: Jan. 4 Issued 35,400 common shares for $354,000. Apr. 15 Issued 14,160 preferred shares for $1,132,800. 29 Repurchased and retired 11,800 common shares at $7.50 per share. The balance in the Contributed Surplus account arose from the repurchase of common shares in prior years. May 17 Declared a semi-annual cash dividend to the preferred shareholders of record at June 14, payable July 5. Aug. 13 Issued 29,500 common shares for $206,500. Dec. 16 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 $1,146,960.

Open T accounts and post to the shareholders equity accounts. (Post entries in the order in the order of journal entries presented in the previous part)