On January 1, 2021, Wildhorse Ltd. had the following shareholders' equity accounts: Common shares (1,000,000 issued) Retained earnings $1,300,000 1,690,000 The company was also authorized to issue an unlimited number of $4 noncumulative preferred shares. As at January 1, 2021, none had been issued. During 2021, the corporation had the following transactions and events related to its shareholders' equity: Jan. 2 Apr. 1 July 1 Aug. 12 Oct. 1 Dec. 31 Dec. 31 Issued 103,000 preferred shares for $47 per share. Paid quarterly dividend to preferred shareholders. Paid quarterly dividend to preferred shareholders. Issued 103,000 common shares for $2.40 per share. Paid quarterly dividend to preferred shareholders. Paid quarterly dividend to preferred shareholders and a $0.30 per share dividend to the common shareholders. Loss for the year was $103,000. Cash 4841000 Preferred Shares 4841000 To record issuance of shares.) Cash Dividends - Preferred 103000 Cash 103000 Cash Dividends - Preferred 103000 Cash 103000 Cash 247200 Common Shares 247200 (To record issuance of shares.) Cash Dividends - Preferred 103000 Cash 103000 ec. 31 Cash Dividends - Common 330900 Cash Dividends - Preferred 103000 Cash 433900 (To record dividends paid) Retained Earnings 103000 Income Summary 103000 (To close Income Summary.) Retained Earnings 742900 Cash Dividends - Preferred 412000 Cash Dividends - Common 330900 (To close dividends.) Open general ledger accounts for the shareholders' equity accounts, enter the beginning balances, and post entries from the previous part (Post entries in the order of Journal entry presented in the previous part) Ref. Debit Credit Balance 11 Preferred Shares Date Explanation Jan. 2 Common Shares Date Explanation Jan. 1 Balance Ref. Debit Credit Balance J1 Aug. 12 Cash Dividends- Preferred Date Explanation Apr. 1 Ref. Debit Credit Balance J1 July 1 11 Oct. 1 11 Dec. 31 J1 J1 Dec. 31 Closing entry Cash Dividends- Common Date Explanation Dec. 31 Ref. Debit Credit Balance 11 J1 Dec. 31 Closing entry Retained Earnings Date Explanation Jan. 1 Balance Ref. Debit Credit Balance Dec. 31 Closing entry 31 Dec. 31 Closing entry ji