Hammond Manufacturing Inc. was legally incorporated on January 2, 2023. Its articles o unlimited number of common shares and 100,000 shares of $15.0 non-cumulative prefe among those that occurred during the first three years of operations: 2023 Jan. 12 Issued 40,300 common shares at $5.4 each. 20 Issued 3,000 common shares to promoters who provided legal services that he] establish the company. These services had a fair value of $42,000. 31 Issued 86,000 common shares in exchange for land, building, and equipment, fair market values of $366,000,$486,000, and $54,000, respectively. Mar. 4 Purchased equipment at a cost of $8,220 cash. This was thought to be a speci price. It was felt that at least $11,400 would normally have had to be paid this equipment. Dec. 31 During 2023 , the company incurred a loss of $102,000. The Income Summary acc closed. 2024 Jan. 4 Issued 5,000 preferred shares at $92 per share. Dec. 31 The Income Summary account was closed. Profit for 2024 was $222,000. 2025 Dec. 4 The company declared a cash dividend of $0.72 per share on the common share December 18 and also declared the required dividend on the preferred shares 18 Paid the dividends declared on December 4. 31 Profit for the year ended December 31, 2025, was $217,620. The Income Summa closed. Required: 1. Journalize the transactions for the years 2023,2024 , and 2025 . The company does Hammond Manufacturing Inc. was legally incorporated on January 2, 2023. Its articles o unlimited number of common shares and 100,000 shares of $15.0 non-cumulative prefe among those that occurred during the first three years of operations: 2023 Jan. 12 Issued 40,300 common shares at $5.4 each. 20 Issued 3,000 common shares to promoters who provided legal services that he] establish the company. These services had a fair value of $42,000. 31 Issued 86,000 common shares in exchange for land, building, and equipment, fair market values of $366,000,$486,000, and $54,000, respectively. Mar. 4 Purchased equipment at a cost of $8,220 cash. This was thought to be a speci price. It was felt that at least $11,400 would normally have had to be paid this equipment. Dec. 31 During 2023 , the company incurred a loss of $102,000. The Income Summary acc closed. 2024 Jan. 4 Issued 5,000 preferred shares at $92 per share. Dec. 31 The Income Summary account was closed. Profit for 2024 was $222,000. 2025 Dec. 4 The company declared a cash dividend of $0.72 per share on the common share December 18 and also declared the required dividend on the preferred shares 18 Paid the dividends declared on December 4. 31 Profit for the year ended December 31, 2025, was $217,620. The Income Summa closed. Required: 1. Journalize the transactions for the years 2023,2024 , and 2025 . The company does