I can't seem to figure out the majority of this question. Any help would be greatly appreciated.

The shareholders" Equity of Genghis Corporation at January 1 , 2016 was as follows :!Share CapitalPreferred Shares , $4 non - cumulative , 220, 000 authorized , 2, 200 , issued and outstanding\$ 165, 000Common Shares , unlimited authorized , 29, 000 issued and outstanding*$ 1, 350, 000Total Share Capital$ 1, 350, 000Retained Earnings$258, 000Total Shareholders' Equity$ 1, 608,000No dividend was declared for common shareholders . However on December 15 , 2016 , the directors decided to pay dividends to preferredshareholders . The dividend payment date was December 28 , 2016 . Net income for the year was $180,000 . The company uses the retained earningsmethod to record dividends .Do not enter dollar signs or commas in the input boxes!a ) Calculate the amount of dividend to be paid to preferred shareholders .Dividends Payable : $b ) Prepare journal entry for declaration and payment of preferred dividend .DateAccount Title and ExplanationDebitCreditDec 15Retained EarningsDividends Payable*$ 1VDividend payable on preferred sharesDEC 28Dividends Payable*CashRecording payment of dividend C ) Calculate the ending balance of retained earnings for the year ended December 31 , 2016.Genghis CorporationStatement of Retained EarningsFor the Month Ended December 31 , 2016Opening Balance*25.8.000Add : Net IncomeLess : Dividends PaidBalance - December 31 , 2016Check