Nod Company Ltd. is authorized to issue 100,000 $3 preferred shares. The company can issue unlimited common shares, and has 50,000 common shares outstanding worth $200,000 and no preferred shares issued. Currently, the opening retained earnings equals $200,000. The following transactions occurred during 2022: Jan. 9 To purchase new vehicles valued at $31,000, Nod Company Ltd. issued 6,200 common shares. (2 marks) Feb. 7 The board of directors declared a 5% share dividend to shareholders of record on Mar. 2, to be distributed on Mar. 21. The shares trade for $4 a share. (6 marks) Mar. 21 Issued the share dividend. Apr. 7 Needing cash for equipment investments, the Board issued 15,000 preferred shares for cash at $20 per share. (2.5 marks) May 17 The board declared total cash dividends of $64,000 to shareholders of record on May 20, payable on Jun. 7. (7 marks) Jun. 7 Paid the cash dividend. Dec. 31 Nod Company Ltd. earned a net income of $225,000 for the year. Close out the income summary account and any other temporary equity accounts. (3.5 marks) REQUIRED: 1) Journalize the above entries. (21 marks) 2) Prepare a statement of changes in equity for 2022. (6 marks) 3) Prepare the balance sheet presentation of the equity section as at December 31, 2022