On January 1, 2024, Pharoah Ltd. had the following shareholders' equity accounts: Common shares (930,000 issued) $1,395,000 Retained earnings 1,674,000 The company was also authorized to issue an unlimited number of $4 noncumulative preferred shares. As at January 1, 2024, none had been issued. During 2024, the corporation had the following transactions and events related to its shareholders' equity: Jan. 2 Issued 93.000 preferred shares for $50 per share. Paid quarterly dividend to preferred shareholders. Issued 96,000 common shares for $1.70 per share. Mar. 31 June 30 Aug 12 Paid quarterly dividend to preferred shareholders. Sept. 30 Dec. 31 Dec. 31 Paid quarterly dividend to preferred shareholders. Paid quarterly dividend to preferred shareholders and a $0.25 per share dividend to the common shareholders Loss for the year was $95,500.