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List of Accounts:

• Accounts Payable
• Accounts Receivable
• Accumulated Depreciation - Buildings
• Accumulated Depreciation - Vehicles
• Accumulated OCI
• Bonds Payable
• Buildings
• Cash
• Common Shares
• Common Shares Subscribed
• Common Stock Dividends Distributable
• Contributed Surplus
• Contributed Surplus - Donated Land
• Deficit
• Dividend Receivable
• Dividend Revenue
• Dividends
• Dividends Payable
• Equipment
• FV - NI Investments
• FV - OCI Investments
• Furniture and Fixtures
• Gain on Appreciation of Capital Asset
• Gain on Disposal of Investments FV-OCI
• Income Summary
• Inventory
• Investment in Sinking Fund
• Investment Income or Loss
• Land
• Legal Expense
• Loss in Value of Investment Property
• Machinery
• No Entry
• Notes Payable
• Preferred Shares
• Property Dividends Payable
• Retained Earnings
• Share Subscriptions Receivable
• Treasury Shares
• Unrealized Gain or Loss
• Vehicles

Please help solve the above for both the blanks and the boxes that have a red line around them to indicate that the answers are wrong, I do not know how to solve those portions and need someone to explain how to properly solve them

Martinez Limited's ledger shows the following balances on December 31, 2020: $ 400,000 Preferred shares outstanding: 20,000 shares Common shares outstanding: 48,000 shares Retained earnings 3,408,000 866,720 Assuming that the directors decide to declare total dividends in the amount of $433,360, determine how much each class of shares should receive if the preferred shares are cumulative and fully participating. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $1.20 per share. (Round intermediate percentage calculations to 4 decimal places, eg. 12.2525% and final answers to decimal places, e.g. 5,275.) Preferred Common Total Dividend $ 48000 $ 385360 $ $ 433360 Assuming that the directors decide to declare total dividends in the amount of $433,360, determine how much each class of shares should receive if the preferred shares are non-cumulative and are participating in distributions in excess of a 10% dividend rate on the common shares. Note that one year's dividends are in arrears on the preferred shares, which paya dividend of $1.20 per share. (Round intermediate percentage calculations to 4 decimal places, eg. 12.2525% and final answers to O decimal places, eg. 5,275.) Preferred Common Total Dividend $ 92560 $ 340800 $ $ 433360 The following is the shareholders' equity section of Blue Spruce Corp. at December 31, 2020: $ 1,140,000 1,400,000 Preferred shares, authorized 120,000 shares; issued 38,000 shares Common shares (unlimited authorized, 56,000 issued) Contributed surplus Total paid-in capital 107,000 2,647,000 Retained earnings 2,107,800 Total shareholders' equity $ 4,754,800 a The preferred shares have a $2 dividend rate, are cumulative, and participate in distributions in excess of a $3 dividend on the common shares. No dividends were paid in 2018 or 2019. On December 31, 2020, Blue Spruce wants to pay a cash dividend of $5 per share to common shareholders. How much cash would be needed for the total amount to be paid to preferred and common shareholders? (Round excess return percentage to 4 decimal places, eg. 52.7531% and final answer to O decimal places, e.g. 5,275.) Preferred Common Total ount to be paid to shareholders $ 304000 $ 280000 $ 584000 The company decides instead that it will declare a 15% stock dividend on the outstanding common shares at their fair value. The common shares' fair value on the date of declaration is $45 per share. Prepare the entry on the date of declaration. (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.) Account Titles and Explanation Debit Credit Retained Earnings 378000 Common Stock Dividends Distributable 210000 The company decides instead to acquire and cancel 10,300 common shares at the current fair value of $45 per share. Prepare the entry to record the retirement, assuming the contributed surplus balance arose from previous cancellations of common shares. (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 for the amounts.) Account Titles and Explanation Debit Credit Common Shares 257500 Cash 463500