My question is related to the last dividend declaration. I'm not sure how to arrive at the right amount, if someone could show me how they arrive at the correct calculation that would be great.

* Question 6 Sheffield Corp. reported the following amounts in the shareholders' equity section of its December 31, 2019 SFP: Preferred shares, $7 dividend (11,000 shares authorized, 2,300 shares issued) Common shares (unlimited authorized, 23,000 issued) Contributed surplus Retained earnings Accumulated other comprehensive income Total $234,600 552,000 56,400 230,000 72,000 $1,145,000 During 2020, the company had the following transactions that affect shareholders' equity. 1. Paid the annual 2019 $7 per share dividend on preferred shares and a $3 per share dividend on common shares. These dividends had been declared on December 31, 2019. 2. Purchased 3,900 shares of its own outstanding common shares for $33 per share and cancelled them. 3. Issued 1,100 shares of preferred shares at $110 per share (at the beginning of the year). 4. Declared a 20% stock dividend on the outstanding common shares at their fair value when the shares were selling for $44 per share. 5. Issued the stock dividend. 6. Declared the annual 2020 $7 per share dividend on preferred shares and a $2 per share dividend on common shares. These dividends are payable in 2021. The contributed surplus arose from net excess of proceeds over cost on a previous cancellation of common shares. Total assets at December 31, 2019, were $2,140,000, and total assets at December 31, 2020 were $2,616,000. The company follows IFRS. Your answer is partially correct. Try again. Prepare journal entries to record the transactions above. (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.) Debit Credit 735100 g 55100 733600 35100 128700 Account Titles and Explanation 1. Dividends Payable tash 2. Common Shares Contributed Surplus Atash 3. tash Preferred Shares 4. Dividends Common Stock Dividends Distributable 5. Common Stock Dividends Distributable Common Shares 6. Dividends Dividends Payable 7121000 F168080 168080 168080 168080 66260 166260