Munchies Corporation, a publicly traded company, is authorized to issue 205,000 $4 noncumulative preferred shares and an unlimited number of common shares. On January 1, 2021, the general ledger contained the following shareholders equity accounts. $436,800 Preferred shares (7800 shares issued) 1008 000 Common shares (67 200 shares issued) 25,700 Contributed surplus 722.000 Retained earings 10.200 Accumulated other comprehensive Income The following equity transactions occurred in 2021 Feb 6 Issued 9.200 preferred shares for $546,000 Apr 6 Issued 19,200 common shares for 5547,200 27 Repurchased and retired 2.700 common shares at $17 per share. The balance in the Contributed Surplus account arose from the repurchase of common shares in prior years May 29 Dedared a semi-annual cash dividend to the preferred shareholders of record at June 12, payable July 1. Aug 22 Issued 9.700 common shares in exchange for a building. At the time of the exchange. the building was valued at $175,600 and the common shares at $160.000 The board of directors decided there were insufficient funds to dedare the semi-annual dividend to the preferred Dec 14 shareholders 31 Net income for the year was $592.000. Preferred Shares Dividends Declared DOO 0122 WOOL DO 100 Common Shares 001 00 Retained Earnings Accumulated Other Comprehensive Income MUNCHIES CORPOR Statement of Changes For the Year Ended December 3 Share Capital Preferred Shares Common Shares Contributed Surplus Balance, Jan 1 1008000 Issued preferred shares Issued common shares Repurchased common shares Dividends declared Net Income Balance, Dec 31 e Textbook and Media MUNCHIESCORPORATION Statement of Financial Position (Partial) December 31, 2021 tA