Headlands Ltd. issues 8,600, $4 cumulative preferred shares at $66 each and 15.000 common shares at $30 each at the beginning of 2019. Each preferred share is convertible into two common shares. The appropriate preferred share dividend was declared and paid in 2019. During the years 2020 and 2021, the following transactions affected Headlands's shareholders' equity accounts: 2020 Jan. 10 Paid $12,000 of annual dividends to preferred shareholders. 2021 Jan. 10 Paid annual dividend to preferred shareholders and a $3,000 dividend to common shareholders. Mar. 1 The preferred shares were converted into common shares. (a) Journalize each of the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit