On January 1, 2020, Blue Spruce Ltd. (a public company) had the following shareholders' equity accounts: Preferred shares, $7 non-cumulative, unlimited number authorized, none issued 0 Common shares, unlimited number authorized, 770,000 issued $ 3,850,000 Retained earnings 1,106,000 Accumulated other comprehensive income 144,000 The following selected transactions occurred during 2020: Jan. 2 Issued 110,000 preferred shares at $100 per share. Mar. 5 Declared the quarterly cash dividend to preferred shareholders of record on March 20, payable April 1. Apr. 18 Issued 150,000 common shares at $8 per share. June 5 Declared the quarterly cash dividend to preferred shareholders of record on June 20, payable July 1. Sept. 5 Declared the quarterly cash dividend to preferred shareholders of record on September 20, payable October 1. Dec. 5 Declared the quarterly cash dividend to preferred shareholders of record on December 20, payable January 1. Dec. 31 Net income for the year was $410,000. Enter beginning balances and post the entries to the shareholders' equity and dividends T accounts and arrive at the ending balances. (Post entries in the order of journal entries presented in the previous part.) Preferred Shares > Common Shares Retained Earnings Accumulated Other Comprehensive Income Dividends Prepare the statement of changes in shareholders' equity for the year. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Preferred Shares Commo Number of Shares Share Capital Numbei Balance Jan, 1, 2020 $ ssued preferred shares ssued common shares Declared dividends Net earnings Balance, December 31, 2020 eTextbook and Media List of Accounts Prepare the shareholders' equity section of the SFP at December 31. Blue SpruceLtd. Statement of Financial Position (Partial) $ $ e Textbook and Media Prepare journal entries to record the transactions above, as well as the closing entries for Income Summary and Dividends. (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. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Cr (To close income summary account) (To close dividends account) Prepare the financing activities section of the statement of cash flows for the year ended December 31. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) Blue SpruceLtd. Cash Flow Statement (Partial) Financing activities: $ Cash financing activities $