lkhardt Corporation, a publicly traded company, is authorized to issue 190,000 $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 (7,800 shares issued)	$421,200
Common shares (77,000 shares issued)	1,078,000
Contributed surplus	23,100
Retained earnings	864,000
Accumulated other comprehensive income	10,100

The following equity transactions occurred in 2021:

Feb.	6		Issued 10,200 preferred shares for $622,200.
Apr.	6		Issued 22,000 common shares for $605,000.
	27		Repurchased and retired 2,700 common shares at $16 per share. The balance in the Contributed Surplus account arose from the repurchase of common shares in prior years.
May	29		Declared a semi-annual cash dividend to the preferred shareholders of record at June 12, payable July 1.
Aug.	22		Issued 8,400 common shares in exchange for a building. At the time of the exchange, the building was valued at $164,700 and the common shares at $149,000.
Dec.	14		The board of directors decided there were insufficient funds to declare the semi-annual dividend to the preferred shareholders.
	31		Net income for the year was $570,000.

Open T accounts and post to the shareholders equity accounts.