Kennel Corporation, a publicly traded company, is authorized to issue 192,000 $4 noncumulative preferred shares and an unlimited number of common shares. On January 1, 2021, the general ledger contained the following shareholders' equity accounts: Preferred shares (8,500 shares issued) Common shares (66,500 shares issued) Contributed surplus Retained earnings Accumulated other comprehensive income 27 May 29 Aug. 22 $476,000 The following equity transactions occurred in 2021: Dec. 14 997,500 31 24,000 872,000 Feb. 6 Issued 9,700 preferred share for $582,000. Apr. 6 Issued 19,000 common shares for $541,500. Repurchased and retired 3,300 common shares at $17 per share. The balance in the Contributed Surplus account arose from the repurchase of common shares in prior years. Declared a semi-annual cash dividend to the preferred shareholders of record at June 12, payable July 1. Issued 8,700 common shares in exchange for a building. At the time of the exchange, the building was valued at $157,000 and the common shares at $143,000. 10,200 The board of directors decided there were insufficient funds to declare the semi-annual dividend to the preferred shareholders. Net income for the year was $616,000.

number of commoes thares. On January 1.2021. the general tedger contained the followhe shareholders equaty accounts The folseminz equiry transetiens occuried in 2021 27. Reporchuied and retired 2000 cemmon shars at $17 per share. The halance in the Contributed Surplun account. arose from the repurchase of common shares is pricer vean $157,000 and the common shures at $143000 Dec: 14: The based of Girectors decided there were inauffient funds to declare the semi-annoal dividend to the preferred shareholders. 3) Nec inxometor the yearwas $616000 Record the above transactions, including any entries required to close dividends and net income. (List all debit entries before credit entries. 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 occount titles and enter O for the amounts. Round overage cost per share to 2 decimal polces, es. 2.25 and final answers to 0 decimal places)