In 2022, Anna Waldon, owner of Nature Gnome Company, started a new company that will be operated as a corporation, Earth Rock Incorporated (ERI). This company solls outdoor clothing and equipment. The articles of incorporation for ERI authorized the company to issue 500,000 preferred shares that pay a dividend of S4 40 per year and 1,000,000 common shares. At January 1, 2023, the 2,100 preferred shares had a balance of $93,600, the 54,000 common shares had a balance of $162,000, and the retained earnings balance was $399.000. In January 2023, ERI has the following transactions related to its common shares. (Click the icon to view the transactions.) Required R - X redits. Select the explanation on the last line of the journal entry Required pople who believed in the company's potential for profit. 1. Journalize the entries related to the transactions. Credit 2. Calculate the ending balance in the Common Shares account. 3. Prepare the statement of shareholders' equity for January 31, 2023. Assume that net income for the period was $67,000. Print Done per share from a shareholder who was having financial difficulties In 2022, Anna Waldon, owner of Nature Gnome Company, started a new company that will be operated as a corporation, Earth Rock Incorporated (ERI). This company solls outdoor clothing and equipment. The articles of incorporation for ERI authorized the company to issue 500,000 preferred shares that pay a dividend of S4 40 per year and 1,000,000 common shares. At January 1, 2023, the 2,100 preferred shares had a balance of $93,600, the 54,000 common shares had a balance of $162,000, and the retained earnings balance was $399.000. In January 2023, ERI has the following transactions related to its common shares. (Click the icon to view the transactions.) Required R - X redits. Select the explanation on the last line of the journal entry Required pople who believed in the company's potential for profit. 1. Journalize the entries related to the transactions. Credit 2. Calculate the ending balance in the Common Shares account. 3. Prepare the statement of shareholders' equity for January 31, 2023. Assume that net income for the period was $67,000. Print Done per share from a shareholder who was having financial difficulties