On January 1, 2024, Sheridan Ltd. had the following shareholders' equity accounts: Common shares (1,140,000 issued) $1,710,000 Retained earnings 2,052,000 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 Mar 31 Issued 114,000 preferred shares for $50 per share. Paid quarterly dividend to preferred shareholders. June 30 Aug. 12 Sept. 30 Paid quarterly dividend to preferred shareholders. Issued 106,000 common shares for $1.70 per share. Paid quarterly dividend to preferred shareholders. Dec. 31 Dec. 31 Paid quarterly dividend to preferred shareholders and a $0.25 per share dividend to the common shareholders. Loss for the year was $105.500. Journallize 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 e rofor the amounts Record journal entries in the order presented in the problem. List all debit entries before credit entries) Date Account Titles (To record dividends paid) (To close Income Summary) (To close dividends) Debit Credit Prepare the shareholders' equity section of the balance sheet at December 31, 2024, Including any required disclosures. Assume Sheridan is reporting under ASPE. (Enter account name only and do not provide descriptive information.) SHERIDAN LTD. Balance Sheet (Partial) S