Fabulous Jewellery Limited reported the following summarized balance sheet at December 31, 2016: (Click the icon to view the statement.) 6 (Click the icon to view the transactions.) Requirements Journalize Fabulous's transactions. Explanations are not required. Report Fabulous Jewellery Limited's shareholders' equity at December 31, 2017. Net income for 2017 was $23,000. 2. Requirement 1. Journalize the transactions. (Record debits first, then credits. Explanations are not required.) Feb 13: Issued 5,100 common shares for $6 per share. Journal Entry Accounts Date Debit Credit 0 Feb 13 - Statement X * Transactions Assets Current assets .... $ June 7: Declared the regular cash dividend on the preferred shares Property and equipment, net.......... 33,500 55,400 88,900 $ Journal Entry Accounts Total assets Date Debit Credit During 2017, Fabulous completed these transactions that affected shareholders' equity: Feb 13 Issued 5,100 common shares for $6 per share. June 7 Declared the regular cash dividend on the preferred shares. July 24 Paid the cash dividend. Aug 9 Distributed a 6% stock dividend on the common shares. Market price of the common shares was $7 per share. Nov 20 Sold 400 common shares for $10 per share. June 7 Liabilities and Equity Liabilities .................. ..........$ Shareholders' equity: $0.20 cumulative preferred shares, 400 shares issued Common shares, 6,200 shares issued 37,500 6,000 24,400 21,000 July 24: Paid the cash dividend. Print Done Retained earnings Journal Entry Total liabilities and equity 88,900 Date Accounts Debit Credit July 24 Print Done Aug 9: Distributed a 6% stock dividend on the common shares. Market price of the common shares was $7 per share. Journal Entry Accounts Date Debit Credit Aug 9 Journal Entry Accounts Debit Credit Date July 24 Aug 9: Distributed a 6% stock dividend on the common shares. Market price of the common shares was $7 per share. Journal Entry Accounts Debit Credit Date Aug 9 Nov 20: Sold 400 common shares for $10 per share Journal Entry Date Accounts Nov 20 Debit Credit Requirement 2. Report Fabulous Jewellery Limited's shareholders' equity at December 31, 2017. Net income for 2017 was $23,000. (Enter the accounts in the proper order.) Shareholders' Equity: Total shareholders' equity