On January $12024,$ Crane Ltd had the following shareholders' equity accounts:Common shares$(1080,000$ Issued$)$ $$1620,000$Retained Earnings $1944,000$The company was also authorized to issue an unlimited number of $$4$ noncumulative prefered shares. As at january $12024,$ none had been issued $.$ During $2024,$ the corporation had the following transactions and events related to it's shareholders equity:Jan $2$ Issues $108,000$ preferred shares for $$50$ per shareMar $31.$ Paid quarterly dividend to preferrend shareholdersJune $30$ paid quarterly dividend to preferred shareholdersAug. $12$ Issues $102,000$ common shares for $$1\mathrm{.}70$ per shareSept. $30$ paid quartely dividend to preferred shareholdersDec $31$ paid quarterly dividend to preferred shareholders and a $$0\mathrm{.}25$ per share dividend to the common shareholders. Dec $31.$ Loss for the year was $102,5001.$ Journalize the transactions and the entries to close dividends and the income summary account. $2.$ open general ledger acconts for the shareholders equity accounts $,$ enter the beginning balances and the post entries from the previous part$\mathrm{.}3$ prepare shareholder equity section of the balance sheet at December $31,2024$ including any required disclosures. Assume Crane is reporting Under ASPE