On January 1, 2020, Grouper Ltd. (a public company) had the following shareholders' equity accounts: Preferred shares, $8 non-cumulative, unlimited number authorized, none issued 0 Common shares, unlimited number authorized, 830,000 issued $5,810,000 Retained earnings 1,186,000 Accumulated other comprehensive income 137,000 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 170,000 common shares at $8 per share. Junes Declared the quarterly cash dividend to preferred shareholders of record on June 20, payable July 1. Sept. S Dedared 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 $390,000. Prepare journal entries to record the transactions above, as well as the closing entries for Income Summary and Dividends. (Credit account titles manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the or Enter beginning balances and post the entries to the shareholders' equity and dividends T accounts and arrive at the ending balances. (Post entr Preferred Shares v v Common Shares