On January 1, 2024. Pharoah Ltd. had the following shareholders' equity accounts: 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 relateg to its shareholders' equity: Jan. 2 Issued 105,000 preferred shares for $50 per share. Mar. 31 Paid quarterly dividend to preferred shareholders. June 30 Paid quarterly dividend to preferred shareholders. Aug 12 Issued 96,000 common shares for $1.70 per share. Sept. 30 Paid quarterly dividend to preferred shareholders. Dec. 31 Paid quarterly dividend to preferred shareholders and a $0.25 per share dividend to the common shareholders. Dec 31 Lossfor the year was $101,000. Journalize the transactions and the entries to close dividends and the Income Summary account. (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 joumal entries in the order presented in the problem. List all debit entries before credit entries.) Commonshares Cash Dividends - Commor Preferred Shares Cash Dividends-Cominon Preferred Shares Common Shares (To record dividends paid) Retained Earnings Cash Dividends-Comman (To close income Summary) (To record dividends paid) Dec31 Retained Earnings Cahh Dividends - Common (To close income Summary) Dec 31 Retained Earning I thcome Summary (To close dividends) On January 1, 2024. Pharoah Ltd, had the following shareholders' equity accounts: The compary was also authorized to istue 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 105,000 preferred shares for $50 per share. Mar. 31 Paid quarterly dividend to preferred shareholders. June 30 Paid quarterly dividend to preferred shareholders. Aug. 12 Issued 96,000 commonshares for $1,70 per share. Sept: 30 Paid quarterly dividend to preferred shareholders. Dec 31 Paid quarterly dividend to preferred shareholders and a $0.25 per share dividend to the common shareholders. Dec 31 Loss for the year was $101,000. PHAROAHLTD. Balance Sheet (Partial) $